Intel pumps up third-quarter profit
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SANTA CLARA, Calif.âDriven by demand for flash-memory chips used in cellphones, Intel Corp.&#39;s third-quarter profits rose as the chip-making giant struggled to overcome lacklustre PC sales, growing inventory, product missteps and stiff competition.
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Hynix Semiconductor Inc., the world&#39;s second-largest maker of computer-memory chips, said profit quadrupled in the third-quarter and will rise in the current period on increased demand for its products.
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(InfoWorld) - Citing surprisingly high demand for its processors, Intel on Monday upgraded its third-quarter revenue forecast to a range of $9.4 billion to $9.8 billion from the company's previous estimate of $9 billion to $9.6 billion. Both ranges are far above Intel's results in the third quarter of 2006, when the company collected $8.7 billion in revenue, a 12 percent drop from the same quarter the previous year. Intel's sagging performance in 2006 led to a corporate restructuring plan including thousands of layoffs and the sale of several divisions. The company has posted muchÂ stronger results in 2007, despite a lingeringÂ price war with rival Advanced Micro Devices. In July, Intel beat Wall Street estimates with second-quarter revenue of $8.7 billion, with profit up 44 percent over the same period of last year. Intel's financials forecast upgrade came the same day thatÂ AMD launched its Barcelona quad-core Opteron server chip, which is expected to be a strong competitor to Intel's current server chips. However, Intel said its new forecast is generated by demand throughout its business units, including notebook and desktop chips as well as server processors. "We're seeing strength in revenue across the board," said Intel spokesman Tom Beermann. The company will give more detailed results when it reports its third-quarter earnings on Oct. 16. Also on Monday, Intel trimmed another business division, agreeing to sell certain assets of its modular communications platforms business, which makes telecommunications boards, to RadiSysÂ for $31.75 million. The parts of the division being sold to RadiSys make ATCA computing and packet processing blades, ATCA chassis, AMC modules, and cPCI blades and chassis. The deal with RadiSys did not contribute to Intel's revised revenue forecast today, Beermann said. Intel expects "a significant number" of employees to accept new job offers and move to RadiSys, but has not estimated the number. They will include workers in the engineering, product testing/validation, operations and marketing departments. RadiSys makes ATCA platforms and other products for telecommunication equipment manufacturers. The deal is expected to close in September. Â
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(InfoWorld) - Intel said its quarterly profit rose 44 percent over last year, reaching $1.3 billion as low selling prices for its microprocessors were offset by higher than expected unit shipments. The results came despite an ongoing price war as Intel and rival AMD struggle for larger shares of the processor market. Both companies have been cutting prices on their chips as they upgrade their products from standard chips to dual-core and quad-core processors. Intel is also in the final stages of a corporate reorganization that included the layoffs of thousands of workers in 2006, and at least 1,800 more layoffs planned for August. The company incurred restructuring charges of $82 million during the most recent quarter as it continued to adjust to the changes, Intel said on Tuesday. Despite those challenges, Intel earned $0.22 per share on revenue of $8.7 billion for the quarter ending June 30, beating Wall Street expectations that the company would earn $0.19 per share on revenue of $8.54 billion, according to analysts polled by Thomson Financial. Intel also beat its own mark from the second quarter of 2006, when it earned $0.15 per share on revenue of $8.01 billion.
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Intel Corp. (INTC.O: Quote, Profile, Research) , the world&#39;s largest chip maker, on Tuesday reported a 15 percent rise in quarterly profit on an improved personal
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Most major Japanese electronics makers reported improved earnings for the third quarter on Thursday as cost cutting pushed up profitability and demand surged for new digital products.
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Intel Corp. , the largest maker of microchips, on Thursday raised its quarterly revenue target, citing strong worldwide demand for its microprocessors, and its shares jumped nearly 6 percent in after-hours trading.
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Intel said its quarterly profit rose 45% to $1.3 billion, as low chip prices were offset by strong unit shipments.
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Intel said it now sees third-quarter revenue between $9.4 billion and $9.8 billion, boosted by stronger-than-expected demand.
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Intel Corp. , the largest maker of computer processors, posted a rise in second-quarter earnings on Tuesday, but missed its gross profit margin goal and its shares fell nearly 5 percent.
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Storage maker EMC&#39;s profit increased dramatically compared to last year&#39;s third quarter, lifted again by continued growth of its VMware subsidiary and EMC&#39;s recent sale of a slice of the company.
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Intel Corp. , the world's largest maker of microchips, on Thursday raised its quarterly revenue outlook, citing strong worldwide demand for its microprocessors and reduced levels of inventories, and its shares jumped more than 7 percent in after-hours trading.
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Intel Corp.  on Tuesday said quarterly profit rose 15 percent, helped by record sales in Asia and stronger demand for notebook and server computer chips, and gave an outlook that reassured jittery investors that it could grow despite tough market conditions.
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SEMICONDUCTOR giant Intel has dramatically raised the range of its fourth-quarter sales forecast as it benefited from strong holiday demand for microprocessors.
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Eking out a strong finish to end a disappointing year, Intel Corp on Thursday raised its revenue forecast for the fourth quarter, citing surprisingly strong demand across its line of chips for personal computers.
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Profits at Intel soar even as competition from smaller rival Advanced Micro Devices forced chip prices lower.
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Mobile chipmaker Texas Instruments Inc  posted higher third-quarter earnings on Monday as it sold more analog chips with higher profit margins.