Intel's first-quarter profit matched Wall Street's subdued expectations, a sign the company's core microprocessor business remained healthy...
Intel’s first-quarter profit matched Wall Street’s subdued expectations, a sign the company’s core microprocessor business remained healthy amid fears of a broader slowdown in technology spending.
The stock jumped about 7 percent in after-hours trading Tuesday after the technology bellwether forecast higher profit margins in the second quarter and signaled that it is thriving while its smaller rival, Advanced Micro Devices, continues to stumble.
Intel said its net profit for the three months ended March 29 was $1.44 billion, or 25 cents per share, in line with the average estimate of analysts.
Intel’s sales of $9.67 billion — a 9 percent improvement over last year and a record for the first quarter — came in slightly higher than Wall Street’s estimate of $9.63 billion.
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Office of U.S. Courts
Bankruptcy filings rose 38% in 2007
U.S. bankruptcy filings jumped 38 percent in 2007 as the credit crunch intensified, a sharp reversal from the previous year’s 70 percent drop after a new law restricted consumers’ ability to erase debt.
Personal and business bankruptcies totaled 850,912, up from 617,660 the previous year, the Administrative Office of the U.S. Courts in Washington, D.C., said Tuesday.
U.S. bankruptcy filings reached a record of 2.08 million in 2005 as consumers and business owners sought court protection from creditors before the Bankruptcy Abuse Prevention Act took effect in October of that year. The law, supported by credit-card issuers, required many debtors to repay at least some of what they owed over several years.
Compiled from The Associated Press and Bloomberg News