Saturday, January 17, 2009

Intel revenue Plunges 90% On depressed Demand (INTC)

Anemic global demand for PCs is taking its toll on chip-maker Intel (INTC): The company reported today net income of $234 million, down 90% from a year earlier. EPS was 4 cents a share, in line with estimates. Revenue was $8.2 billion, down 23 percent, also in line. No hard forecasts from Intel: The company said the economy makes it difficult to predict demand, but it's assuming about $7 billion in first-quarter sales. That's below consensus estimates of $7.28 billion. Tough numbers, but not as bad as feared: The stock is up 1.8% after hours.

Ward Melville Intel Semifinalists Ceremony Part 2-

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