- Joined
- Feb 11, 2006
- Location
- Folding&home
Intel CEO Paul Otellini's 2006 cost cuts, painful as they were for Intel employees, paid off Tuesday as the company's second-quarter profits rebounded compared with last year.
The chipmaker posted a 47 percent increase in net income during its second quarter, up to $1.3 billion or 22 cents per share. The Wall Street crowd had been expecting 19 cents per share. Intel said it had 90,300 employees during the second quarter, way down from the 102,500 employees it had at this time last year.
Revenue was also a little stronger than had been expected, up 8 percent to $8.7 billion compared with expectations of $8.5 billion. The stronger revenue growth came despite the continuing decline of Intel's average selling prices as a result of strong price competition with Advanced Micro Devices.
http://news.com.com/8301-10784_3-9746169-7.html