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Intel takes EC hit, but sees Q2 growth

Intel records best growth from Q1 to Q2 in 20 years but still posts loss on EC fine

Intel has posted second quarter results showing some signs of recovery, despite taking a hit from the European Commission’s fine of 1.06 billion euros ($1.45 billion).

Net revenue for the second quarter was $8 billion, up 12% on first quarter revenue of $7.1 billion, the company’s strongest growth from Q1 to Q2 since 1988.

Net revenue was still down by $1.4 billion from Q2 last year however, and Intel made a net loss of $398 million for quarter, mainly due to the EC fine, which was levied for antitrust violations.

Paul Otellini, Intel president and CEO commented: “Intel’s second-quarter results reflect improving conditions in the PC market segment with our strongest first- to second-quarter growth since 1988 and a clear expectation for a seasonally stronger second half. Intel’s strategy of investing in new technologies and innovative products, combined with ongoing focus on operating efficiencies, continues to yield benefits that are evident in our strengthening financial performance.”

Microprocessor unit shipments were also up from the first quarter of the year, although average selling price is still down, mainly due to cheaper Atom sales.

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