Intel
The giant chip-maker posted its largest quarterly net income in a decade as the company benefits from a strengthening computer market and more sophisticated factories.
Intel’s results, reported after the market closed Tuesday, topped Wall Street’s forecasts, and the company raised its guidance.
Intel’s net income was $2.89 billion, or 51 cents a share, in the quarter that ended June 26. That compares with a loss of $398 million, or 7 cents a share, a year ago, when Intel was forced to pay a $1.45 billion fine in Europe over antitrust violations.
Revenue was $10.77 billion in the latest period.
Yum Brands
The owner of the Taco Bell, Pizza Hut and KFC fast-food restaurant brands said Tuesday that its second-quarter profit fell slightly because a one-time gain a year ago outpaced its revenue growth. The report exceeded analysts’ expectations.
Yum said it earned $286 million, or 59 cents a share, for the three months that ended June 12. That compares with $303 million, or 63 cents a share, a year earlier, when it recorded a $68 million one-time gain for increasing and consolidating its stake in its KFC business in Shanghai, China.
Revenue rose 4 percent to $2.57 billion.
