Arguments rage over accounting standards in general and pro-forma earnings in particular. Ian Sax has the blow-by-blow
In June 2000, Intel pre-announced that its second quarter earnings would include $1.5 bn from investments. That was positive news to anyone hoping to see a prodigious earnings increase, but the disclosure sparked heated debate as analysts following the semiconductor giant argued over whether the tremendous windfall should be included or excluded from their earnings estimates.In past quarters, analysts had been including such gains for Intel, though the amounts were minuscule compared to the second
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