10 Updates

Intel reports lower 1Q net income, higher revenue

Apr 15 2014, 5:42pm CDT | by

NEW YORK (AP) — Intel's earnings fell in the first three months of the year amid a continued slump in the worldwide PC market, but revenue grew slightly because of solid demand for...

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15 weeks ago

Intel reports lower 1Q net income, higher revenue

Apr 15 2014, 5:42pm CDT | by

NEW YORK (AP) — Intel's earnings fell in the first three months of the year amid a continued slump in the worldwide PC market, but revenue grew slightly because of solid demand for tablet processors and its data center services.

Intel Corp. is the world's largest maker of microprocessors, which act as the "brains" of computers. Intel has historically been strong in selling chips for personal computers, but that business is declining as people buy smartphones and tablets instead. Intel has been slow to respond to that shift with lower-energy chips that mobile devices demand.

Intel has been working to change that. Besides coming out with mobile-friendly chips, Intel is also expanding into new technologies such as wearable devices and everyday appliances. It bought a maker of fitness trackers, Basis Science, this year.

Intel Corp. said Tuesday that it earned $1.95 billion, or 38 cents per share, in the January-March quarter. That's down 5 percent from $2.05 billion, or 40 cents per share, a year earlier.

Revenue grew 1 percent to $12.8 billion from $12.6 billion.

Analysts, on average, were expecting earnings of 37 cents per share on revenue of $12.8 billion.

Although revenue for the PC business fell, Intel saw signs of improvement. The company also credited solid growth in data centers and said it shipped 5 million tablet processors. CEO Brian Krzanic described that as "strong progress on our goal of 40 million tablets for 2014."

There are signs that the steep PC slump is easing, though it may be a temporary bump from Microsoft's retirement of the Windows XP operating system, which it launched in 2001.

Last week, research firms Gartner and IDC said that although global PC shipments declined in the first three months of the year for the eighth straight quarter, the decline was not as steep as in the last quarter of 2013.

Analysts for both firms pointed to a bump in demand, especially in Japan, stemming from the Windows XP retirement. While users can still run XP, but Microsoft will no longer provide security updates and has urged existing users to upgrade to newer systems.

For the second quarter, Intel is forecasting revenue of $12.5 billion to $13.5 billion. Analysts were expecting $12.9 billion.

Shares of the Santa Clara, Calif., company climbed 57 cents, or 2.1 percent, to $27.34 in extended trading after the results came out. The stock had closed at $26.77, up 21 cents and not far from its 52-week high of $27.12.

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat was told to ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into by robbers ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minist ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern states ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million in ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Dat ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocation of RM20 mil ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

8 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

8 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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