Strong Intel Numbers Signal Hope for IT Industry
Three months after CEO Paul Otellini announced that the PC market had bottomed out, Intel’s latest quarterly numbers indicate that the industry may be stabilizing.
Intel July 14 posted strong numbers in the second quarter, including $8 billion in revenue and a $1 billion profit. However, when the European Commission’s $1.45 billion fine for antitrust violations was factored in, Intel’s profit swung to a $398 million loss.
The EC levied in the fine in May, and Intel has since appealed. Analysts were encouraged by what they saw from the giant chip maker. “They are an early indicator of where the industry is going, and it seems to be going well,” Gartner analyst Leslie Fiering said in an interview after Intel’s conference call with analysts and journalists.
