16 Jul 2009

Intel surprises with underlying profit

12:13 am on 16 July 2009

The American chipmaker Intel has reported a better-than-expected underlying profit of $US1 billion in the June quarter.

Including a massive $US1.45 billion fine for anti-competitive practices from the European Commission fine, the company lost $US398 million.

Revenue fell 15% to $US8 billion, but that's better than analysts had expected.

Looking ahead, Intel expects revenue to rise to between $US8.1 billion and $US8.9 billion, saying demand for PCs has risen, particularly in Asia.

But the company notes the corporate market remains weak and says Intel does not expect much of a change in the second half of the year.