Intel disappoints with just 5 percent earning growth
Microprocessor giant and the maker of largest number of PC processors Intel has somewhat disappointed the market by showing a minor 5% growth in their earnings during the third quarter of the current year. However, the revenues for the company from the processors have touched a record high of $7.26 billion. The companyâ€™s net earning for the period was just under $2 billion, or 32 cents per share.
Analysts had expected the company to show around 33 cents per share of earning reports. However, the performance of the Intel Corp was somewhat influenced by Intel’s $300 million patent infringement settlement with MicroUnity. However, the numbers matches the companyâ€™s own expectations for the quarter.
Intel is looking at selling off their third-quarter inventory buildup to keep things clear for the next generation chips based on dual core designs for shipment in the next year. They are also expecting to see its first batch of dual-core mobile processors code-named Yonah later this year. Intel CEO Paul Otellini said in a statement: “The combination of our 65nm manufacturing network, broad range of new dual-core processors and unique ability to provide platform solutions positions us well for continued growth.â€
At the close of regular trading, Intel shares were up 1.11 percent or 26 cents to $23.72.