CORRECTED: Intel second-quarter profit rises
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Inserts new paragraph 3 to show 3-cent charge for purposes of comparison with Reuters Estimates
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The consumer electronics retailer said 2nd-quarter profit rose to $250 million on strong international results and tighter spending controls.
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Intel Corp., the world's largest chip maker, raised its third-quarter revenue outlook on Monday due to stronger-than expected demand for its microprocessors.
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(InfoWorld) - As price competition takes its toll, AMD Thursday posted its third consecutive quarterly loss, saying that although revenue was relatively solid, it suffered a sharp second-quarter drop in income. Revenue for the quarter was $1.38 billion, an improvement from $1.22 billion a year earlier. But the company reported a net loss of $600 million, or a loss of $1.09 per share, a big drop from net income of $89 million, or $0.18 per share, a year earlier. A big part of the loss was due to restructuring costs and a $130 million, or $0.24 per share, charge related toÂ the acquisition of graphics-chip maker ATI last year. One piece of good news was that in the face of stiff price competition from Intel, AMD said its second quarter gross margin was 34 percent, excluding one-time charges, an improvement over its 31 percent margin in the first quarter of 2007. "We achieved a 12 percent sequential revenue increase, improved the gross margin, and won back microprocessor unit and revenue market share," said Robert J. Rivet, AMD's CFO, in a statement accompanying the company results. Looking ahead, AMD forecast that third-quarter revenue would increase in line with traditional seasonal growth rates. Though that does not point to a big increase in profit in the near future, traders reacted positively to the upbeat news on revenue and margins, driving up company shares by $0.32 to $15.78 in after-hours trading. Nevertheless, the second-quarter gross margin, for example, was still a far cry from AMD's 57 percent gross margin in the second quarter of 2006. Rivet acknowledged that to instill confidence in the company, "we must improve our financial results." AMD faces an uphill battle. After gaining ground, in terms of market share and technology, on Intel two years ago by coming out with dual-core processors, AMD suffered last year as Intel battled back with its own line of multicore chips. In the longer term, AMD is pinning its hopes to a great degree on its "Barcelona" quad-core Opteron server chip, due out in August. That chip will compete with Intel's dual-core "Woodcrest" and quad-core "Clovertown" Xeon processors launched last year. AMD also needs to stay on track and hit its 2009 goal to bring its new Fusion chip -- made with ATI technology -- to market.
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Corrects headline and story to show that settlement has been reached; adds dropped word "million" in paragraph 2
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(Corrects attribution in last paragraph to Martin Reynolds,   an analyst at Gartner, not Hurd)
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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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Intel Corp., the world's largest  maker of computer chips, said on Wednesday it would double its  quarterly dividend to 8 cents a share, the second time this  year it has doubled its cash payout.
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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.
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Plus: Novell reverses year-earlier profit...Lenovo posts 2006-07 net surge...HP sales up on PC strength.
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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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Microchip maker Intel Corp.  INTC.O on Tuesday reported its highest-ever quarterly revenue  and boosted its budget for factory and manufacturing  investments by more than $1 billion as profits exceeded Wall  Street expectations.
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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 44 percent rise in quarterly profit on Tuesday but gross margins missed its target and shares fell nearly 5 percent.
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Rebate payment from Intel makes all the difference in margin increase.
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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 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.