salem
12-10-2004, Tue 11:37 PM
Intel in-line
The world's # 1 maker of semiconductors reports 3Q results that are in line with Street estimates
October 12, 2004: 4:24 PM EDT
NEW YORK (CNN/Money) - Intel, the world's largest manufacturer of semiconductors used in personal computers and servers, reported third-quarter sales and earnings that were roughly in line with Wall Street's diminished expectations.
The Santa Clara, Calif.-based company reported net income of $1.9 billion, or 30 cents a share, up 15 percent from a profit of $1.7 billion, or 25 cents a share a year earlier. Analysts had been expecting Intel to post a profit of 27 cents a share according to Thomson/First Call. However, the company said that a lower than anticipated tax rate and reduced tax provision boosted earnings per share by 3.6 cents. Backing that out, Intel reported earnings of about 26 cents a share.
Intel's sales came in at $8.5 billion, 8 percent higher than a year ago and slightly higher than Wall Street's lowered expectations of $8.44 billion. Intel warned in September that its third-quarter sales would come in much lower than the $8.6 billion to $9.2 billion it had originally forecast in July.
The world's # 1 maker of semiconductors reports 3Q results that are in line with Street estimates
October 12, 2004: 4:24 PM EDT
NEW YORK (CNN/Money) - Intel, the world's largest manufacturer of semiconductors used in personal computers and servers, reported third-quarter sales and earnings that were roughly in line with Wall Street's diminished expectations.
The Santa Clara, Calif.-based company reported net income of $1.9 billion, or 30 cents a share, up 15 percent from a profit of $1.7 billion, or 25 cents a share a year earlier. Analysts had been expecting Intel to post a profit of 27 cents a share according to Thomson/First Call. However, the company said that a lower than anticipated tax rate and reduced tax provision boosted earnings per share by 3.6 cents. Backing that out, Intel reported earnings of about 26 cents a share.
Intel's sales came in at $8.5 billion, 8 percent higher than a year ago and slightly higher than Wall Street's lowered expectations of $8.44 billion. Intel warned in September that its third-quarter sales would come in much lower than the $8.6 billion to $9.2 billion it had originally forecast in July.