News Summary: Intel 2Q earnings fall

The Associated Press
News Summary: Intel 2Q earnings fall

In this Thursday, July 12, 2012, photo, Intel Core i7 processors are stacked at a store in Cambridge, Mass. Intel, the world's largest chipmaker, said Tuesday, July 17, 2012, the weak global economy is slowing its growth as its earnings fell 4.3 per cent in the latest quarter as operating expenses rose faster than revenue. (AP Photo/Charles Krupa)

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.