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| Intel results beat expectations | Intel results beat expectations |
| (10 minutes later) | |
| US chipmaker Intel has reported a better-than-expected net profit of $1bn (£610m) for April to June, excluding a massive European Commission fine. | US chipmaker Intel has reported a better-than-expected net profit of $1bn (£610m) for April to June, excluding a massive European Commission fine. |
| Including the fine, levied for anti-competitive practices in May, the company made a loss of $398m. | Including the fine, levied for anti-competitive practices in May, the company made a loss of $398m. |
| Revenue for the three months stood at $8bn, a 15% fall compared with $9.4bn for the same period last year. | Revenue for the three months stood at $8bn, a 15% fall compared with $9.4bn for the same period last year. |
| Earlier on Tuesday, banking giant Goldman Sachs also reported strong second-quarter results. | Earlier on Tuesday, banking giant Goldman Sachs also reported strong second-quarter results. |
| Positive outlook | Positive outlook |
| "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 Intel boss Paul Otellini. | "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 Intel boss Paul Otellini. |
| Analysts were also upbeat about the second quarter results. | Analysts were also upbeat about the second quarter results. |
| Ashok Kumar at Collins Stewart described the numbers as "extremely strong given the economic backdrop", while Doug Freedman at Broadpoint Amtech said more good news was to come. | Ashok Kumar at Collins Stewart described the numbers as "extremely strong given the economic backdrop", while Doug Freedman at Broadpoint Amtech said more good news was to come. |
| "Intel has a much stronger seasonal second half. So the fact that the second quarter is better than the first quarter clearly puts the worst behind Intel," he said. | "Intel has a much stronger seasonal second half. So the fact that the second quarter is better than the first quarter clearly puts the worst behind Intel," he said. |
| Earlier on Tuesday, computer giant Dell said demand from businesses remained "very weak", but that the PC market may have reached its low point. | |
| Intel was fined just over 1bn euros by the European Commission for anti-competitive practices. | Intel was fined just over 1bn euros by the European Commission for anti-competitive practices. |
| The Commission found that between 2002 and 2007, it had paid manufacturers and a retailer to favour its chips over those of Advanced Micro Devices (AMD). | The Commission found that between 2002 and 2007, it had paid manufacturers and a retailer to favour its chips over those of Advanced Micro Devices (AMD). |
| Intel said it would appeal against the verdict. | Intel said it would appeal against the verdict. |