Intel says profit blows past estimates

[July 15, 2009]  SAN FRANCISCO (AP) -- Intel Corp. says its profit and sales blew past Wall Street's forecasts -- as long as analysts overlook a $1.45 billion antitrust fine from the European Union. The fine gave the world's biggest semiconductor company a net loss.

Intel also offered third-quarter sales guidance that was $700 million higher than analysts' average estimate. It was a sign that computer manufacturers are buying more chips than expected.

Intel says it earned $1 billion, or 18 cents per share, in the second quarter, excluding the EU fine. On that basis, analysts expected a profit of 8 cents per share, according to Thomson Reuters.

Including the fine, Intel lost $398 million, or 7 cents per share.

Sales fell 15 percent to $8.02 billion. Analysts had predicted $7.28 billion.

[Associated Press; By JORDAN ROBERTSON]

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