Chirpy Otellini
“Intel had another strong quarter with revenue at the high end of expectations and earnings up substantially year over year,” said an understandably chirpy Paul Otellini, Intel’s president and CEO. “As we enter the second half, demand remains strong for our microprocessor and chipset products in all segments and all parts of the globe.”
It looks like the star performers for Intel were the mobile microprocessor and chipset units, both of which set quarterly records. It’s also a promising sign for the tech sector that total microprocessor sales were seasonally high. Another piece of good news for Intel was that restructuring and asset impairment charges were only $96 million, compared to the expected $250 million.
Intel is predicting revenue of between $10 and $10.6 billion for Q3 and is sticking to a full year gross margin prediction of 57 percent give or take a couple of percent. Its shares closed at 20.71 yesterday, up around a percent, and gained a further percent or so in afterhours trading.
Press release: INTEL POSTS RECORD SECOND-QUARTER REVENUE OF $9.5 BILLION
