Intel Posts In-Line Results, Stock Climbs
Intel reports a lower quarterly profit, but delivers revenue slightly ahead of expectations.SAN FRANCISCO (Reuters)-Intel Corp on Tuesday posted a lower quarterly net profit and reported revenue that was slightly ahead of expectations in the face of a weakening U.S. economy, and its shares rose 5.5 percent. The world's largest maker of semiconductors said first-quarter net income fell to $1.44 billion, or 25 cents per share, from $1.64 billion, or 28 cents a share, a year ago. Revenue rose to $9.67 billion from $8.85 billion.
Intel, one of the big bellwethers for technology, said it expected second-quarter revenue in a range of $9.0 billion to $9.6 billion and a gross margin of 56 percent, plus or minus a couple of points.