Intel profits firm despite falling laptop prices

Intel recorded strong earnings in the second quarter of 2008 despite a drop in the average selling price of its chips.

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Intel recorded strong earnings in the second quarter of 2008 despite a drop in the average selling price of its chips.

The company's net income was up 25 percent to $1.6bn, or $0.28 per share, compared to $1.28bn, or $0.22 per share, in the same period of last year. Analysts polled by Thomson Financial had forecast net income of $1.49bn for the second quarter, which ended June 28.

Intel's net revenue was $9.47bn, a year-over-year increase of 9 percent and beating analyst estimates of $9.32bn.

Growth in demand for lower-priced laptops resulted in a lower-than-expected average selling price of microprocessors, Intel said. However, demand for chips will continue to remain strong through the year, said Intel CEO Paul Otellini in a statement.

"As we enter the second half, demand remains strong for our microprocessor and chipset products in all segments and all parts of the globe," Otellini said.

 
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