Tuesday April 16, 4:24 pm Eastern Time
Intel's 1st-quarter profit in line with forecasts
SANTA CLARA, Calif., April 16 (Reuters) - Intel Corp. on Tuesday reported
first-quarter earnings down slightly from a year ago, suggesting that its profit declines are nearing an end. The world's largest
chipmaker also forecast a wide second-quarter revenue range of $6.4 billion to $7.0 billion.
Santa Clara, California-based Intel (NasdaqNM:INTC - news) said net income before acquisition-related charges was $1.0
billion, or 15 cents a share, compared with year-ago profit before charges of $1.1 billion, or 16 cents a share. Revenue rose to
$6.8 billion from $6.68 billion.
On that basis, the results were in line with the 15 cents a share analysts polled by research firm Thomson Financial/First Call
had forecast. Estimates ranged from 13 cents to 16 cents a share and revenue was forecast at $6.79 billion.
Analysts had forecast second-quarter earnings of 15 cents a share, within a range of 11 cents to 18 cents, on revenue of $6.67
billion, a decline of about 1.8 percent from first-quarter levels.
Shares of Intel rose $1.34 to $29.45 on the Nasdaq before results were released, which came after the close of regular U.S.
trading. The stock has declined 6.4 percent this year, compared with a 16 percent rise in the Philadelphia Semiconductor