Intel 22 first quarterly loss

Intel Company logo (source: Beijing Morning Post) Click here to view all financial news pictures profit myth lost to EU sky-high ticket Intel's 22-year profit myth was broken by a ticket from the European Union. The company's 2009-year two-quarter earnings report yesterday showed that Intel's second-quarter GAAP achieved revenue of $1.4 billion and 1 billion dollars in revenue, excluding the European Commission's fines. But according to accepted accounting standards, the 1.45 billion-dollar ticket is to be counted, and the Intel net loss of $398 million.　　This is the first time in nearly 22 years, Intel quarterly earnings losses. In May this year, the European Commission issued a record 1.45 billion-dollar antitrust ticket to Intel Corporation, citing Intel's violation of the EU's free competition law and deliberately excluding AMD from the market when seizing market dominance.　　AMD is Intel's main competitor today. In fact, Intel's second-quarter financial statements would have been remarkable if the incident was ruled out. Otellini, President and CEO of the company, said this was Intel's strongest quarter-on-quarter growth since 1988 and a positive signal to the IT community that the PC market is getting warmer.　　The global IT industry has been in the doldrums since the financial crisis, but Otellini expects more robust growth in the PC market in the second half of the year. In the first quarter of this year, Intel successfully weathered one of the toughest nodes and successfully achieved 647 million dollars in profits. Previously, Intel executives said the company's 2009 first-quarter operating conditions could be in the red. The industry has been predicting that the chip giant has reached a break-even point and is likely to suffer quarterly losses, thus breaking the 22-year myth of profitability.