Intel, IBM See Sales Stall as Europe Crisis Crimps Orders
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Intel Corp. and International Business Machines Corp., computer-industry bellwethers, posted the slowest sales growth in more than two years last quarter as the European slump weighed on orders.
IBM’s revenue climbed 0.3 percent to $24.7 billion in the period, while Intel sales rose 0.5 percent to $12.9 billion. That was the smallest increase for either company since the third quarter of 2009, when the U.S. economy was just emerging from recession. Even so, Intel predicted a pickup in sales for the current quarter.