Intel surpasses estimates in rough quarter
C|Net | at | by Mike
Intel beat analyst expectations in what was an otherwise dismal second quarter, with net income down 76 percent from a year ago. In a statement released Tuesday, the chipmaker reported net income, excluding acquisition-related costs, of $854 million, or 12 cents a share. Analysts polled by First Call expected 10 cents a share. The earnings figure was a 76 percent drop from the same period a year ago and a 22 percent decline from the first quarter of 2001. Revenue for the quarter totaled $6.3 billion, down 24 percent from the same period a year ago and down 5 percent from the first quarter of 2001.