You could argue that the economy is still rebounding, but not if you're Intel. The chip giant is raking in money like it's no big thing, with second quarter earnings showing a revenue score of $13.5 billion. That's right. $13.5 billion earned in a single quarter. Must be nice to be the king, you know? The corporation managed operating income of $3.8 billion, net income of $2.8 billion and EPS of $0.54. The company generated approximately $4.7 billion in cash from operations, paid dividends of $1.1 billion and used $1.1 billion to repurchase stock. Wondering how the CEO responded to all the news?
"The second quarter was highlighted by solid execution with continued strength in the data center and multiple product introductions in Ultrabooks and smartphones," said Paul Otellini, Intel president and CEO. "As we enter the third quarter, our growth will be slower than we anticipated due to a more challenging macroeconomic environment. With a rich mix of Ultrabook and Intel-based tablet and phone introductions in the second half, combined with the long-term investments we're making in our product and manufacturing areas, we are well positioned for this year and beyond."
With back-to-school and the holiday season just around the corner, there's probably no stopping the growth. But, it must be said that Intel's missing out on cash opportunities by having a small foot in mobile. Yes, it has a chip in a Lenovo phone, but that's not selling gangbuster-type numbers. How long until the company simply has to take tablets and smartphones seriously? We're guessing Qualcomm and NVIDIA are eating up that market while they can.