Intel's good news: Record revenue of $9.5B

USA TODAY, July, 2008 by Michelle Kessler

SAN FRANCISCO -- Finally, some good economic news: Chip giant Intel says demand for technology products remains solid.

Intel, the No.1 semiconductor maker, kicked off the tech earnings season Tuesday with record second-quarter revenue. Revenue of $9.5 billion rose 9% from $8.7 billion a year ago.

Perhaps more important, CEO Paul Otellini was downright chipper about the future -- despite the mortgage crisis, rising gas prices and other indications of economic woe. In the current quarter, Intel expects revenue of $10 billion to $10.6 billion, more than many Wall Street analysts had expected.

"We are very aware of the global economic issues ... (and we are) watching these very carefully," Otellini said. But orders rolled in as expected in the first half of the year, and "We see continued healthy demand," he said.

The news was a big relief for battered investors, although the volatile market still remains ...