Intel on Tuesday reported a second-quarter loss of $398 million after booking a $1.45 billion antitrust fine from the European Union (EU). A year earlier, the chip maker earned $1.6 billion. The chip giant signalled that the worst trading conditions in history for the chip industry are over.
Intel sales fell 15% to $8.02 billion, but the results beat Wall Street's estimates. The company said it has "a clear expectation for a seasonally stronger second half." It also offered a third-quarter sales forecast that was above analysts' estimates.
“We saw strengthening through June,” said Stacy Smith, the chief financial officer at Intel, during an interview.
