Intel Corp. (NASDAQ: INTC) today reported better-than-expected second quarter results, allaying fears that the economic slowdown would hurt the world's largest chipmaker.Net income rose 25% to $1.6 billion, or 28 cents and sales jumped 9.1% to $9.47 billion, beating analysts' expectations of profit of 26 cents on revenue of $9.33 billion. The company even gave robust guidance of $10 billion to $10.6 billion. Analysts surveyed by Bloomberg expected sales of $10.01 billion. Shares of the Santa Clara, Calif.-based company rose in after-hours trading along with other tech bellwethers such as Microsoft Corporation (NASDAQ: MSFT), Dell Inc. (NASDAQ: DELL) and Google Inc. (NASDAQ: GOOG).
"Intel had another strong quarter with revenue at the high end of expectations and earnings up substantially year over year," said Paul Otellini, Intel president and CEO, in the earnings release. "As we enter the second half, demand remains strong for our microprocessor and chipset products in all segments and all parts of the globe."
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