News Summary: Intel 2Q earnings fall

News Summary: Intel warns that economy will hold back growth

Associated Press
News Summary: Intel 2Q earnings fall
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In this Thursday, July 12, 2012, photo, Intel Core i7 processors …

THE RESULTS: Intel says net income was down 4.3 percent from last year, but ahead of Wall Street expectations. Revenue rose 3.6 percent.

THE WARNING: The company says the weak global economy is slowing its growth, and revenue for the current quarter is likely to come in below Wall Street forecasts.

THE SIGNIFICANCE: Intel chips go into about 80 percent of personal computers and into vast numbers of servers as well, making it a bellwether for spending on computers.

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