Oct 26, 2017

Intel beats expectations despite flat PC business

Intel CEO Brian Krzanich. Photo: Asa Mathat for Vox Media

Intel reported quarterly earnings and revenue well ahead of expectations and said it expects a record year despite the continuing stagnation in the PC business. The company is also raising its full-year outlook for both sales and per-share earnings.

The bottom line: While sales were flat in the PC chip unit, the company saw significant growth in its other key areas including flash memory, data center chips and Internet-of-things products.

The company reported per-share earnings, excluding items, of $1.01 compared with expectations of around 80 cents, with revenue of $16.1 billion, ahead of consensus estimates of $15.7 billion, per Zacks.

"We executed well in the third quarter with strong results across the business, and we're on track to a record year," Intel CEO Brian Krzanich said in a statement.For the year, Intel now expects revenue of $62 billion, up $700 million from its prior forecast, with per-share earnings (excluding items) of around $3.25, up 25 cents from earlier projections.

Go deeper

Rebecca Falconer

#MeToo leaders react to Harvey Weinstein's rape conviction

Actor Rose McGowan and #MeToo movement founder of Tarana Burke at a campaign event in Detroit. Photo: Rena Laverty/AFP via Getty Images

Harvey Weinstein's rape trial convictions on Monday mark an "incredibly important step" for the #MeToo movement and the greater fight to end gender-based violence, the campaign's leaders said in a statement.

Why it matters: Allegations that first publicly surfaced against Weinstein in 2017 helped propel Tarana Burke's MeToo movement into a global campaign. Burke and other #MeToo leaders say his being found guilty in New York of committing a sexual act in the first degree and third-degree rape "sends a resounding message to survivors, to perpetrators and to allies."

Go deeper18 mins ago - Politics & Policy

Rebecca Falconer

Trump administration asks Congress for $2.5 billion to fight coronavirus

President Trump with Health and Human Services Secretary Alex Azar at the White House in September. Photo: Chip Somodevilla/Getty Images

The Trump administration sent a letter to Congress Monday requesting a funding commitment of at least $2.5 billion to help combat the spread of the novel coronavirus.

Details: The request for a lump sum account for the Department of Health and Human Services includes $1.25 billion in new funds to fight COVID-19 and $535 would come from untouched funds for the Ebola virus.

Go deeper2 hours ago - Health

Axios

WHO won't call coronavirus a pandemic as cases spread

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The World Health Organization will not yet call the coronavirus a pandemic, claiming that needs across affected countries are too varied and the classification would increase fear, per a briefing Monday.

The big picture: As South Korea and Italy stepped up emergency measures in efforts to thwart the spread of the virus, WHO expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,620 people and infected almost 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperUpdated 5 hours ago - Health