Intel Corp reports a net income in the first quarter that practically quadrupled over last year. Intel Corp trades on the “NASDAQ” under the stock symbol “INTC” For More information regarding “INTC” or the Latest Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Intel Corp reported on Tuesday that its net income in the first quarter practically quadrupled over last year and displays an increase in spending on technology by means of the manufacturing companies. Intel was the first major technology company to announce its latest earnings for its first quarter when posting that it earned $2.4 billion, or 43 cents per share, in the first three months of 2009.
Intel predicts a gross profit margin of 62 percent to 66 percent of revenue in 2010, up from its previous guidance of 58 percent to 64 percent of revenue.
Intel shares rose 23 cents, 1 percent, to close at $22.77 before the earnings report. In after-hours trading the shares jumped 88 cents, 3.9 percent, to $23.65. Intel's revenue in the latest period jumped 44 percent to $10.3 billion, ahead of analysts' forecast for $9.8 billion.
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