INTC @ $28.50 in AHT
Intel beats lowered Q1 targets (INTC) By Chris Kraeuter
Chip giant Intel (INTC) reported net income of $1.1 billion, or 16 cents a share, compared with $3 billion, or 43 cents a share, during the same quarter last year. The latest First Call/Thomson Financial consensus estimate on Intel's profit was 15 cents a share on sales of $6.59 billion. Actual revenue was $6.7 billion compared with $8 billion during the same quarter last year. Intel said in March it would fall short of its first-quarter sales projections and has cut 5,000 jobs to pare costs. For the second quarter, revenue is expected to be between $6.2 billion and $6.8 billion, with gross margins slipping by a couple of percentage points to 49 percent. Intel shares closed down 24 cents, or 0.9 percent, at $26.06. |
