Intel Earnings Rise, But PC Demand Is Lower Than Expected
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Microprocessor giant Intel slightly exceeded the lowered third-quarter expectations it had set for itself last month. But growth was inhibited by inventory adjustments at some of major customers and lower than expected PC demand.
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Shares of Intel Corp.  rose about 3 percent on Wednesday after the leading chipmaker reported better-than-expected quarterly results and raised its manufacturing spending plans.
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Intel Corp., the giant chipmaker, which has been plagued by product delays and cancellations this year, raised its fourth-quarter revenue forecast on Thursday well above Wall Street expectations.
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Intel on Tuesday released third-quarter financial results showing that it continues to struggle to sell a substantial stockpile of computer chips as demand for personal computers remains slow.
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Improved profits surprise Wall Street, but PC maker warns that figures are preliminary and reveals little detail.
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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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Intel officials said yesterday that the company's fourth-quarter revenue will total between $9.3 billion and $9.5 billion, pushed up by demand for its desktop, notebook and server processors.
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Intel&#39;s revenue increase for the fourth quarter fell short of analysts&#39; estimates in part because of weak prices for memory chips.
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Stocks opened higher on Monday after Intel Corp  raised its revenue outlook, setting the stage for the chip sector to help the market shake off last week's losses.
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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. (INTC.O: Quote, Profile, Research) , the world&#39;s largest maker of microchips, on Thursday raised its quarterly revenue outlook, citing strong worldwide
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Intel Corp. INTC.O, 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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Hewlett-Packard reported solid financial results for its fiscal first quarter, driven by growth in PCs and enterprise hardware. The results prompted HP to raise its forecast for the year ahead.Revenue for the quarter, which ended Jan. 31, was $28.5 billion, up 13 percent from a year earlier, HP announced Tuesday. Pro forma net income was $2.3 billion, or $0.86 per share, up from $1.8 billion, or $0.65 per share, a year earlier.The figures beat the expectations of financial analysts, who had forecast revenue of $27.6 billion and pro forma earnings per share of $0.81, according to Thomson First Call. The pro forma figure excludes one-time items that slightly inflated the results. Using generally accepted accounting principles, HP&#39;s profit was $2.1 billion, or $0.80 per share.HP&#39;s Personal Systems Group, which produces its laptop and desktop PCs, grew its revenue 24 percent from the same period a year earlier, to $10.8 billion, with unit shipments up 27 percent. Notebook sales climbed fastest, up 37 percent, while desktop sales climbed 15 percent.The division had already been doing well. HP extended its lead over Dell in PC sales last year, according to figures from Gartner. HP ended the year with 18.2 percent of the market, compared with 14.3 percent for Dell. The PC market overall grew 13.4 percent.HP may find it hard to sustain that growth rate, in part because it has to make comparisons with increasingly successful quarters in the year before, CEO Mark Hurd said on a conference call. Still, Hurd said, &quot;when you look at 24 percent growth, I think that&#39;s pretty darned strong.&quot;HP&#39;s imaging and printing group performed slightly less well, with revenue climbing 4 percent to $7.3 billion. Printer unit sales declined by 1 percent from a year earlier, thanks to weakness in the consumer market. Revenue from supplies, which includes HP&#39;s profitable ink business, climbed 6 percent, however.Revenue from the servers and storage group climbed 9 percent to $4.8 billion. Sales of blades and industry-standard servers were strong, while HP&#39;s PA-RISC and Alpha chip businesses continued to shrink. Services revenue climbed 11 percent year-over-year to $4.4 billion, while software sales climbed 11 percent to $666 million, HP said.Hurd said he was pleased with the results overall. He attributed them to successful cost-cutting efforts, the addition of 2,000 new HP sales staff in the past year, and a diverse product portfolio.HP generates an increasing amount of its business overseas, he said. Its biggest market continued to be Europe, the Middle East and Africa, where revenue grew 15 percent to $12.3 billion. Asia-Pacific revenue climbed 22 percent to $4.9 billion. Growth in the Americas was a sluggish 8 percent, generating $11.2 billion.&quot;We generated 69 percent of our revenue outside the U.S., with emerging markets driving significant growth,&quot; Hurd said.The company now expects second-quarter revenue of $27.7 billion to $27.9 billion, and pro forma earnings per share of $0.83 or $0.84. That&#39;s above what analysts polled by Thomson had been estimating: pro forma profit of $0.82 and revenue of $27.4 billion.
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Shares of Intel Corp. INTC.O rose  about 3 percent on Wednesday after the leading chipmaker  reported better-than-expected quarterly results and raised its  manufacturing spending plans.
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SAN FRANCISCO: Intel upcoming mid-quarter report will be closely watched for signs of weak back-to-school computer sales, though recent market share gains in memory chips could help offset any softness in computer microprocessor demand.
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Intel Corp  on Monday raised  its third-quarter revenue forecast and said gross margins would  be at the high end of its target range, citing  stronger-than-expected global demand for computing products.
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The world's largest chipmaker Intel sees profits rise 15% to Â£1.9bn thanks to strength in its personal computer business.