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Intel second-quarter earnings surpass estimates

The company has reported upbeat earnings in its second quarter reporter, with credits going to the enterprise PC and server upgrade cycle
Written by Larry Dignan, Contributor on

Intel's second quarter shined as the company's earnings and revenue handily topped estimates. The company also delivered an upbeat outlook for the rest of the year and said the enterprise PC and server upgrade cycle is alive and well.

The chip giant reported net income of $2.9bn (£1.9bn), or 51 cents a share, on revenue of $10.8bn, up 34 percent from a year ago, according to a statement. Intel was expected to report second quarter earnings of 42 cents a share on revenue of $10.25bn, according to Thomson Reuters. Intel's strong results came amid multiple concerns about the economy and tech demand.

For the third quarter and 2010, Intel also was upbeat about its prospects. The company said revenue would be $11.6bn with gross margins of 67 percent. For the year, Intel raised its gross margin outlook to 66 percent, up from 64 percent before. Wall Street was only expecting Intel to report third quarter revenue of $10.9bn for the third quarter. In fact, Intel's third quarter sales projection is in line for what Wall Street was expecting in the fourth quarter, historically the company's best.

For more on this story, see Intel: Corporate PC, server demand fuels strong second quarter on ZDNet.com.

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