Intel Corp. beat Wall Street predictions on Tuesday by announcing a first quarter profit of $3.2 billion on revenue of $12.85 billion. Analyst had forecast that Intel would earn 46 cents a share compared to the actual 56 cents according to a survey by Thomson Reuters.
This discrepancy in calculations has been mainly due to conflicting views on trends in the computer industry. Previous reports had suggested a weakening market according to analyst, Cody Acree. Chief Executive Paul Otellini added that forecasts made ignored the fact that there are emerging markets for Intel, which include places like China and Latin America, which accounts for approximately half of Intel’s business.
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