New York, Jul 15: Intel Corp, that was slapped with a hefty fine of 1.06 billion euros by the European Union (EU), has cited this fine as a major reason for posting a loss for the quarter ended Jun 27.
The global computer chip maker has revealed losses of USD 398 million in the second quarter (Q2). According to a statement released by the company, the anti trust fine that it incurred for illegally using rebates to fight competition weighed heavily on the company for the quarter.
The net revenue dipped to USD 8.02 billion in the latest quarter as opposed to the USD 9.4 billion in the corresponding year ago period. However, there was rise of 12.30 per cent in the the revenues of the company versus USD 7.14 billion in the first quarter (Q1).