That whopping $1.44 billion fine the EU levied against Intel for anticompetive practices officially took its toll today, as the firm announced its second-quarter results. Without the fine, Intel's non-GAAP results included "operating income of $1.4 billion, net income of $1.0 billion and EPS of 18 cents" on $8 billion in revenue.
Once the fine is factored into the picture, though, "the company reported an operating loss of $12 million, a net loss of $398 million and a loss per share of 7 cents."
Despite the loss, Intel CEO Paul Otellini was optimistic about the prospects for the PC market generally, noting strong sequential improvements in sales from the first quarter to the second. "Intel's second-quarter results reflect improving conditions in the PC market segment with our strongest first- to second-quarter growth since 1988 and a clear expectation for a seasonally stronger second half," Otellini said in a statement.
Interestingly, that outlook sharply contradicts a fresh iSuppli report with a preliminary estimate that PC shipments remained essentially flat from Q1 to Q2. iSuppli also expects the PC market to suffer its first annual decline in 2009 since the dot-com bust in 2001. Both firms agree, though, that the second half of the year should bring higher sales than the first half, as is generally the case during the back-to-school and holiday buying seasons.
Another point worthy of note: sales of Atom processors and chipsets accounted for $362 million in the second quarter, an increase of 65% from the first quarter. Not surprisingly, Intel's overall average selling price for microprocessors was lower sequentially. However, the firm said its average microprocessor selling price was "slightly down" even excluding the Atom.