The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Intel Reports Weak Earnings, Shuffles Management

Intel Reports Weak Earnings, Shuffles Management

by , 3:15 PM EDT, July 20th, 2006

While Apple posted strong financial numbers on Wednesday, its computer chip supplier, Intel, on the same day said that its second quarter profit of US$885 million was less than half of the $2 billion in the year-ago period. Its $0.15 EPS on $8 billion in revenue was also down from the $0.33 EPS on $9.2 billion in revenue last year.

"The company cited decreases in the number of microprocessors sold, their average selling price, and the number of motherboards sold," according to an IDG News article. "The sole bright spot was a rise in the number of flash memory units sold, but that was not enough to rescue Intel from sinking revenues around the globe."

In response to the results, Intel on Thursday said that it would shuffle its top management. The company is already in the midst of a reorganization that will likely result in layoffs.

IDG News quoted The Envisioneering Group analyst Rick Doherty as saying: "People who have been at the company awhile knew that there was duplication in departments, and they were not as lean and mean as they could be. This was not a surprise so much as recognition. Undoubtedly, this will help."

Intel spokesman Robert Manetta said that the reshuffling will reduce the number of people reporting to CEO Paul Otellini, which "frees him up to do more strategic thinking."

Recent TMO Headlines - Updated June 21st

Fri, 6:29 PM
Have You Subscribed To The Mac Geek Gab Podcast Yet?
Fri, 5:28 PM
Last Chance for the All-Star Mac Bundle Featuring Parallels Pro
Fri, 3:15 PM
What's New With AirPods!
Fri, 3:12 PM
Future Drones Could Hunt You By Your Screams
Fri, 3:04 PM
Incipio Releases SureView Folio Case for iPad 10.2-Inch
Fri, 2:15 PM
Apple's WWDC21 Privacy Announcements in 10 Minutes
Fri, 2:08 PM
China iPhone 12 Shipments 12 Percent Down on iPhone X
Fri, 2:01 PM
Apple Music in India Getting Spatial Audio and Lossless
Fri, 1:49 PM
Amazon Prime Day 2021 Takes Place on June 21 and 22
Fri, 1:46 PM
22 New Actions Coming to Shortcuts in iOS 15
Fri, 1:31 PM
How to Stop Yourself From Activating Mac Hot Corners
Fri, 1:15 PM
What's New in MacOS Monterey 2021
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Daily Observations
  • TMO on Twitter!