Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Hawk who wrote (114018)	10/17/2000 4:50:45 PM
From: Jim McMannis	Read Replies (3) \| Respond to of 186894

These guys never give up do they...there is always next quarter to bail them out of their paranoia. ---- Intel meets estimates; next quarter looks grim By Michael Kanellos Staff Writer, CNET News.com October 17, 2000, 1:30 p.m. PT just in Intel beat lowered earnings expectations today, but the outlook for the fourth quarter looks like it could be disappointing. The company reported net income of $2.9 billion, or 41 cents a share, for the third quarter, not including acquisition costs, an increase of approximately 52 percent over the same period a year ago. Revenue came to $8.7 billion, a record. Including acqusition costs, net income came to $2.5 billion, or 36 cents a share, up 72 percent from the third quarter of 1999. • Get the "Big Picture" • Related News • Message Boards Quote Snapshot INTC 36.19 +0.50 AMD 18.38 -2.00 · Real-Time Quotes Enter symbol: · Symbol Lookup Quotes delayed 20+ minutes The numbers beat lowered expectations. The company was expected to report earnings of 38 cents a share, or roughly $2.7 billion, according to the consensus estimate from First Call/Thomson Financial, on revenue of approximately $8.6 billion. Intel's earnings include $966 million from interest and investments, higher than the $900 million anticipated for the quarter. Excluding that amount, Intel still beat the revised estimates. Still, it is unclear whether the results will make analysts cheer. In its statement, Intel said revenue would grow by 4 to 8 percent sequentially in the fourth quarter, lower than expected for the traditionally strong holiday period. Last year, Intel reported earnings of 28 cents a share (split-adjusted and excluding acquisition costs) on revenue of $7.3 billion, excluding acquisition costs. On Sept. 21, the Santa Clara, Calif.-based chip giant surprised investors when it warned that revenue, and in all likelihood profits, for the third quarter would be lower than anticipated because of slowing PC sales. The announcement sparked a slide in both the company's stock and the market overall. Although technology stocks have been relentlessly hammered in recent weeks, the PC market is not shrinking. In fact, annual unit shipments of PCs continue to grow around 15 percent. The problem is that unit shipments are not growing as fast as investors would like, and overall revenue is climbing at even a slower rate. One of the major looming issues is how much the market will grow in the fourth quarter, traditionally the strongest quarter for PC sales. Some analysts, such as Eric Ross of Thomas Weisel Partners, predict a fairly normal fourth quarter. For 2000, PC shipments should grow by 18 percent over last year, he wrote in a recent note. Others, however, have said rising oil prices and other factors could dampen holiday impulse spending.