Intel Profit Reaches 2.89 Billion Dollars in Second Quarter

Performance of Intel Corp. in the second quarter of 2010 spelled out satisfactorily. Because, the level of Intel's sales reached a record and exceeded analyst predictions.

In a release yesterday, Intel's second-quarter net income reached 2.89 billion U.S. dollars, or 51 cents per share. Meanwhile, analysts predict Intel's profits reached only 43 cents per share. In comparison, last year in the same period, Intel has suffered a loss of 398 million U.S. dollars, or 7 cents per share.

Intel is releasing the first technology company performance in the second quarter. The performance results provide optimism that the technology industry can avoid a deeper abyss. Actually, Intel has been giving signals about its performance this year in the third quarter ago. Intel said, increasing the company's budget, which means the economy is not going back into recession.

Intel's improved performance makes the company's shares shot. In trading yesterday, Intel's shares had jumped 5.4 percent to 22.14 U.S. dollars. But the Nasdaq Stock Market on the Stock Exchange, shares of Intel closed at 21.01 U.S. dollars. For your information, so far this year Intel shares have increased by 3 percent.

Intel forecast third quarter sales will reach 11.6 billion U.S. dollars. Meanwhile, according to a Bloomberg survey, analysts predict sales levels only reached 10.9 billion U.S. dollars.

Prediction Intel is also pushing the stock price of competitors like Advanced Micro Devices Inc., which rose 5.7 percent to 7.95 dollars. Microsoft Corp. also raced 2.3 percent to 25.70 U.S. dollars.