Intel posts strong profits but stock slips

Article Abstract:

Intel Corp's stock fell as low as $53 in extremely heavy Nasdaq trading on Jul 12, 1993, when the company released its 2nd qtr FY 1993 financial report. The company posted strong sales and profit gains, but not enough to satisfy many investors. The stock closed at $55.625, down 37.5 cents, after 8.4 million shares were traded on the day. Second quarter revenue jumped 61 percent, from $1.32 billion in 1992 to $2.13 billion in 1993, while net income more than doubled, from $213.2 million, or 50 cents per share, in 1992 to $568.5 million, or $1.30 per share, in 1993. Analysts had predicted an average profit of $1.29 per share. Intel CEO and Pres Andrew S. Grove attributes the strong results to huge demand for the 80486 microprocessor. The company expects to sell 30 million 486 microprocessors in 1993. Intel's powerful Pentium microprocessor, which debuted in March, sold in limited numbers in the quarter.

INTC, Growth (Physiology), Growth, Second Quarter

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Big Intel profit delights Wall St

Article Abstract:

Intel Corp reports a 1st qtr 1993 revenue of $2.02 billion, or an increase of 63 percent over the previous year's level of $1.24 billion. Earnings for the quarter totalled $548 million, or $2.48 per share, more than double the year-earlier period's $184.1 million, or 86 cents a share. Intel's financial performance exceeded analysts' estimates; company officials attribute the windfall to the strong sales of its 386 and 486 microprocessors. On Apr 4, 1993, Intel's shares went up by $4.50, rising as high as $121 during the day and closing at $117.50 in Nasdaq trading. The company is reaping the benefits of the microcomputer price wars, despite competition on the 386 from Advanced Micro Devices Inc whose clone holds 50 percent of the 386 market. Intel has, however, successfully blocked 486 clones through legal action.

Microprocessor, CPUs (Central processing units), Marketing, Microprocessors, First Quarter

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