Intel (INTC) Tops Earnings Views, But Chip Sales Cause Hesitation
Tweet
Share
E-mail
Get Alerts INTC Hot Sheet
Price: $90.07 -2.24%
Financial Fact:
Research and development: 3.07B
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Research and development: 3.07B
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Intel (Nasdaq: INTC) issued its second-quarter earnings report Wednesday night after the market close.
Revenue in the quarter increased 21.8 percent to $13.11 billion, better than the Street estimate of $12.82 billion.
Non-GAAP net income rose 10 percent to $3.190 billion, or 59 cents per diluted share, smashing views calling for 51 cents per share.
"Strong corporate demand for our most advanced technology, the surge of mobile devices and Internet traffic fueling data center growth, and the rapid rise of computing in emerging markets drove record results," CEO Paul Otellini commented.
PC Client Group revenue was up 11 percent, Data Center Group revenue rose 15 percent, and other Intel architecture group revenue surged 84 percent. Revs from Atom and chipset processors fell 15 percent to $352 million.
Looking ahead, Intel sees third-quarter non-GAAP revs of $14.1 billion +/- $500 million, compared with the Street consensus for $13.48 billion.
After an initial knee-jerk reaction higher, Intel shares are modestly lower after hours. The stock last traded at $22.89.
Revenue in the quarter increased 21.8 percent to $13.11 billion, better than the Street estimate of $12.82 billion.
Non-GAAP net income rose 10 percent to $3.190 billion, or 59 cents per diluted share, smashing views calling for 51 cents per share.
"Strong corporate demand for our most advanced technology, the surge of mobile devices and Internet traffic fueling data center growth, and the rapid rise of computing in emerging markets drove record results," CEO Paul Otellini commented.
PC Client Group revenue was up 11 percent, Data Center Group revenue rose 15 percent, and other Intel architecture group revenue surged 84 percent. Revs from Atom and chipset processors fell 15 percent to $352 million.
Looking ahead, Intel sees third-quarter non-GAAP revs of $14.1 billion +/- $500 million, compared with the Street consensus for $13.48 billion.
After an initial knee-jerk reaction higher, Intel shares are modestly lower after hours. The stock last traded at $22.89.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
- Beike (BEKE) PT Raised to $23 at Morgan Stanley
Create E-mail Alert Related Categories
EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
