[Page C2.] Intel Reports Strong Sales Growth Intel posted record second-quarter earnings, largely because of gains on investments.
But Green Tree's profits were a mirage, made possible because of gain-on-sale accounting.
The company surpassed analysts' expectations of 79 cents a share largely because of gains in fixed-income trading, analysts said.
The Intel Corporation, the world's largest semiconductor manufacturer, reported record second-quarter earnings yesterday, largely because of gains on investments.
The New York State comptroller's office, however, just estimated that bonuses would reach a record $13.3 billion because of gains earlier in the year.
Barclays said in March that it had a "strong start" to the year after reporting a 49percentt increase in profit for the second half of 2008 because of gains from Lehman.
Sales rose 9.2 percent, to 10.4 billion euros ($15.0 billion), in large part because of gains in Latin America and China, where Nokia's sales rose 29 percent and 30 percent respectively.
Construction added 5,000 jobs, though mostly because of gains in heavy and civil engineering, probably helped by the remaining federal stimulus dollars devoted to infrastructure projects like highways.
Intuit Inc., the world's biggest maker of tax-preparation software, said yesterday that its profit more than doubled in its most recent quarter because of gains on the sale of its Japanese unit and a 29percentt increase in sales.
LG Electronics reported net income of $767 million for the second quarter, quadruple the amount for the period last year, mainly because of gains on the sale of some operations to Royal Philips Electronics.
The private sector managed to add only 1,000 jobs, in part because of gains in health services and in some upper-end hiring of accountants, lawyers, computer specialists and architects.
