Chipmaker Intel reports strong quarterly results
Published: 13th Jul 2010 22:56:34
US chipmaker Intel has reported bumper profits in what it describes as its "best" quarterly results.
Net profit came in at $2.9bn (£1.9bn) for the three months to 26 June, against a loss of $398m a year ago - a higher figure than analysts expected.
Revenue for the period was $10.8bn, as a result of what the company called "strong corporate demand".
The firm also forecast improved revenues of $11.6bn for the three months to the end of September.
Intel shares jumped 5% in after-hours trading following the announcement.
Analysts were impressed by the results.
"The numbers just blew me away, I cannot see any mention of any problems whatsoever," said Phani Saripella at Primary Global Research.
Intel is the second major US company to report its quarterly results following aluminium giant Alcoa on Monday, which also beat analysts' expectations.
Some commentators now see these results as a sign of what is to come.
"In a quarter where people expected relatively strong performance, [Intel] beat that pretty handily and set a good forecast," said Edward Snyder at Charter Equity Research.
"This going to be really good for a lot of other technology companies, particularly enterprise.
"It might be the case that this earnings period is so strong that it allays some of the fears about the broader economy."
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Harvard CitationBBC News, 2010. Chipmaker Intel reports strong quarterly results [Online] (Updated 13th Jul 2010)
Available at: http://www.ukwirednews.com/news/74710/Chipmaker-Intel-reports-strong-quarterly-results [Accessed 11th Mar 2014]
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With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com
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