Recovering nicely
Chip giant Intel beat analyst expectations and managed revenues of $8 billion in the second quarter of 2009. This 12 percent quarter-on-quarter improvement represents the best sequential improvement in that period since 1988.
Anomalously enough, this was also the first quarterly loss reported by Intel for 22 years, but this loss was entirely down to the $1.45 billion fine handed down by the European Commission (EC) for anti-competitive behaviour, all of which was accounted for in Q2.
While such a relatively strong showing from the chip sector's dominant company may not be universally celebrated, it does provide another indication that the tech sector is past the worst that the global recession has to throw at it.
"Intel's second-quarter results reflect improving conditions in the PC market segment with our strongest first- to second-quarter growth since 1988 and a clear expectation for a seasonally stronger second half," said Paul Otellini, Intel president and CEO. Intel is predicting revenues in the region of $8.5 billion for Q3.
Here are some key stats from the announcement:
