Intel Corp. said its latest quarter results were stronger than expected, but the PC business is still weak.
Intel Corp. said its latest quarter results were stronger than expected, but the PC business is still weak.
Consumer demand for PCs in the U.S. and Europe has been weak for the past year. Stacy Smith, Intel’s chief financial officer, said in an interview that it is expected to remain “relatively soft” for the remainder of 2011.
But Intel’s latest numbers provide a map for how the industry plans to find its way out.
Intel’s net income rose just 2 percent to $2.95 billion, or 54 cents per share, from $2.89 billion, or 51 cents per share, a year ago. Excluding some expenses, Intel earned 59 cents per share, ahead of analyst expectations for 51 cents per share, according to FactSet.
Read more at OregonLive.com.
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