The New York Times: Intel reported that it earned $2.8 billion, or 54 cents a share, in the most recent quarter. That was good enough to beat analyst expectations of 52 cents per share. The chip maker's revenue increased 5 percent year-over-year to hit $13.5 billion.
Despite the good quarterly numbers, Intel warned that it was expecting softer sales in the second half of the year due to lower consumer demand for PCs. However, Intel hopes that ultrabooks will eventually lead to a rebound for the PC industry.