Gilles Herard Jr.

Gilles Herard Jr, Gilles Herard, Herard Gilles Jr, G. Herard C. Mack
Intel set aside finances in the second quarter to pay a $1.45 billion EU fine, resulting in its first loss in twenty-two years. The net loss was $398 million, or 7 cents a share, versus a profit of $1.6 billion, or 28 cents, a year earlier.

The EU announced the fine in May, saying the company used illegal rebates to thwart competitors. Intel, which accounts for about 80% of the PC processor market, is appealing the conclusion.

Booting out the European fine, Intel reported a profit of 18 cents a share. That topped the average analyst estimate of eight cents. Revenue fell 15 percent from a year earlier to $8.02 billion, compared with the $7.29 billion anticipated by analysts.

There's a clear expectation for a seasonally stronger 2nd half, Otellini said on a conference call.