A Look at Recent Tech-Industry Earnings
Here is a summary of recent earnings reports for selected technology companies and what they reveal about the state of corporate spending and the overall economy:
Tuesday
Intel Corp. reports its largest quarterly net income in a decade as the chipmaker benefits from a stronger computer market and more sophisticated factories. Large corporations bought more computers that use Intel's most expensive chips, a sign that businesses aren't as stingy on upgrading employees' personal computers.
Wednesday
ASML Holding NV, a Dutch supplier of tools that chipmakers need to make products, says it has returned to profitability in the second quarter as demand rebounded sharply. The company says sales for the year should grow 10 percent to 15 percent over its 2007 record of 3.8 billion as chip makers make up for under-investment during the recession.
Thursday
Advanced Micro Devices Inc. reports a smaller second-quarter loss after reviving sales of computers that use its chips and undergoing a wrenching years-long effort to shed costs. AMD would have made money were it not for a loss related to its investment in factories it used to own but were spun off into a separate company a year ago.
Google Inc.'s earnings misses analysts' target. The letdown stems from Google's expanding payroll and a run-up in the U.S. dollar that has been driven by fears that the euro will crumble if governments in Europe default on their perilously high debts.
Among technology companies' earnings coming up:
Monday: IBM Corp., Texas Instruments Inc.
July 20: Yahoo Inc., Apple Inc.
July 21: EMC Corp., Qualcomm Inc.
July 22: Microsoft Corp., Nokia Corp., Xerox Corp.
Aug. 11: Cisco Systems Inc.
Aug. 19: Dell Inc., Hewlett-Packard Co.
September: Oracle Corp.
Copyright 2010 The Associated Press.
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