Intel Earns 43 Cents a Share

Earlier today, I said Intel (INTC) would earn between 45 and 50 cents a share. I was right — they earned 43 cents a share.**

Intel Corp. said Tuesday its net income in the first quarter nearly quadrupled over last year and reflected an overall bump in spending on technology by companies.
Among other things, Intel got a lift from sales of new chips for computer servers — the kind of purchase that many companies delayed in the recession.
Intel is the first major technology company to report earnings for the first three months. It said after the market closed Tuesday that it earned $2.4 billion, or 43 cents per share, in the first three months of 2009.
Analysts polled by Thomson Reuters were expecting profit of 38 cents per share.
The company also raised its forecast for a key performance measurement. Intel now predicts a gross profit margin of 62 percent to 66 percent of revenue in 2010, up from its previous guidance of 58 percent to 64 percent of revenue.
Intel shares rose 1.45 percent in after-hours trading.

This is very good news. The guidance is key.
** Scoring courtesy of the Congressional Budget Office

Posted by on April 13th, 2010 at 4:46 pm


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