Intel Says PC Sales ‘Bottomed Out’ in Quarter

[endarkenment]

Source: New York Times


Intel reported on Tuesday that first-quarter net income fell 55 percent to $647 million, or 11 cents a share, on revenue of $7.1 billion.

A consensus of Wall Street had estimated that Intel would report revenue of $6.98 billion.

But Paul Otellini, Intel’s chief executive, cast the results in an optimistic light. “We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns."

Read more: http://www.nytimes.com/2009/04/15/technology/companies/15chip.html?ref=technology

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Net income down a staggering 55%. Yikes. But the theme for April is 'bottomed out'.