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Intel reports strong second-quarter earnings
- — 14 July, 2010 07:17
Intel on Tuesday reported strong earnings for the second quarter of fiscal 2010, buoyed by strong microprocessor sales in the server segment.
The company reported net income of US$2.9 billion for the quarter ended June 26. That is a turnaround from the $398 million loss that the company reported in the second fiscal quarter of 2009, which was dragged down by charges related to $1.45 billion in fines paid to the European Commission.
Earnings per share were $0.51, beating estimates of $0.43 from analysts polled by Thomson Reuters.
The company reported quarterly revenue of $10.8 billion, up 34 percent compared to the year-ago quarter. Analysts estimated revenue to be around $10.3 billion.
"Strong demand from corporate customers for our most advanced microprocessors helped Intel achieve the best quarter in the company's 42-year history," said Paul Otellini, Intel president and CEO, in a statement.
Revenue for the Data Center Group, which offers products for servers, storage and workstations, was $2.1 billion, growing from the $1.48 billion reported by the company in the year-ago quarter. The group's microprocessor revenue for the quarter was $1.8 billion.
Revenue for the PC Client Group was $7.84 billion, up from the $6 billion reported in the year-ago quarter. Microprocessor revenue from the group was $6.2 billion.
Intel introduced new server and laptop chips during the quarter. In late May, the chip maker announced a new server chip code-named Knights Ferry that mixes general x86 cores with specialized cores for faster processing of highly parallel scientific and commercial applications.
The company also took a step forward to enter the smartphone and tablet markets. In early May, the company launched Moorestown chips, which are based on the Atom core and are designed to go into smartphones and tablets. The company also launched new Core chips for ultrathin laptops during the quarter.
Intel estimated revenue for the third quarter to be $11.6 billion, plus or minus $400 million.