Intel Tops Analysts’ Estimates, Says Recovery Has Legs
Posted By thestatedtruth.com on July 13, 2010
The corporate recovery looks good, actually it looks great,……but what about main street?
By Ian King – Jul 13, 2010
Intel Corp., the world’s biggest chipmaker, reported record second-quarter sales and topped analysts’ estimates with its forecast for this period, allaying concern that a rebound in technology spending is losing steam.
Third-quarter sales will be $11.6 billion, plus or minus $400 million, the Santa Clara, California-based company said today in a statement. Analysts had estimated $10.9 billion on average, according to a Bloomberg survey.
Intel, the first big technology company to report second- quarter earnings, renewed optimism that the industry will avoid getting mired in another slump. Reporting its third straight quarter of sales growth after last year’s contraction, Intel said corporate spending is strengthening, signaling that the economy isn’t headed back into recession.
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