Intel Beats Earnings Target
One of thebuttonwoodproject’s income choices, Intel Corp. (NASDAQ – INTC – $23.39) reported a 0.7% decline in third-quarter profit, the latest sign that personal computer sales continued to sag over the summer. But the drop was significantly less severe than the past two quarters for the Santa Clara-based chip maker. INTC also posted a slight increase in revenue, reversing recent declines. Intel’s projection for the current quarter also pointed to slight revenue growth in what is typically the PC industry’s strongest selling season. The company reported net income for the third quarter of $2.95 billion, compared with profit in the year-earlier period of $2.97 billion. Per-share earnings were flat at $0.58, but five cents ahead of analysts’ forecasts. Revenue edged up 0.2% to $13.48 billion, in line with the $13 billion to $14 billion Intel projected in July. For those income-oriented investors willing to speculate on a technology holding, the shares are worth consideration for their long-term total return potential. The current yield is 3.8%.