“Intel boosted revenue by 18% year over year but, including a legal charge, the company missed analysts’ earnings expectations by a penny,” Bill Snyder reports for TheStreet.com. “The giant chipmaker also said sales in the fourth quarter are likely to be a bit below Wall Street’s estimates. Following the announcement, shares of Intel slipped 3%, or 74 cents, $22.98 in after-hours trading… The company earned a profit of $2 billion, or 32 cents a share, including a four-cents-a-share charge related to repatriated earnings and a 2-cents-a-share legal charge. The four-cent charge had been included in the company’s guidance and First Call estimates, but the unexpected two-cent charge was not. On that basis, analysts were expecting a profit of 33 cents a share.”
Snyder reports, “Total revenue in the September quarter was $9.96 billion, up 8% sequentially. Net income of $2 billion was up 5% year over year and down 2% sequentially. Analysts had expected the company to post revenue of $9.92 billion in the third quarter. CEO Paul Otellini expressed satisfaction with the quarter, saying, ‘We achieved all-time records in company revenue and unit shipments across all of our major product lines.’ For the fourth quarter, Intel expects revenue between $10.2 billion and $10.8 billion. Analysts were expecting $10.7 billion, a bit above than the mid-point of the company’s guidance.”
Full article here.
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