Intel Reports Biggest Profit in a Decade

Tuesday, Jul 13, 2010  |  Updated 3:30 PM PDT
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Intel Reports Biggest Profit in a Decade

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Intel is one of the few companies that hasn't slowed down on sponsoring immigration applications for skilled foreign workers.

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 Intel has posted its biggest profit in a decade as the company benefits from a strengthening computer market and more sophisticated factories.
 
The results topped Wall Street's forecasts but may not be enough to quell fears about cracks in the computer industry's recovery amid fresh economic worries.

  Intel Corp. reported after the market closed Tuesday that net income was $2.89 billion, or 51 cents per share, in the quarter ended June 26. That compares with a loss of $398 million, or 7 cents per share, a year ago.
 
Analysts have expected a profit of 43 cents per share.
 
Revenue was $10.77 billion in the latest period. Analysts surveyed by Thomson Reuters expected $10.25 billion.
 
Intel's revenue forecast of $11.20 billion to $12 billion for the third quarter is higher than analysts' projections for $10.92 billion.
 

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