Intel (INTC) Muddles Through Q2, Lowers Outlook
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Price: $43.74 -2.15%
Revenue Growth %: +8.4%
Financial Fact:
Research and development: 3.07B
Today's EPS Names:
AOUT, AKTX, CHPT, More
Revenue Growth %: +8.4%
Financial Fact:
Research and development: 3.07B
Today's EPS Names:
AOUT, AKTX, CHPT, More
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Shares of Intel (Nasdaq: INTC) are holding their own despite mixed second quarter results and lower guidance after the close Tuesday.
Revenues during the quarter rose 3 percent from last year and 5 percent from the first quarter to $13.5 billion, but missed the Wall Street consensus calling for revenues of $13.56 billion and the Estimze consensus of $13.58 billion.
The company reported second quarter net income of $2.8 billion, or $0.54 per share. This was in-line with last year and up 2 percent from the first quarter. The results topped the Wall Street consensus of $0.52 by two cents and were in-line with the Estimze consensus of $0.54.
Looking ahead, Intel sees third quarter sales of $13.8-$14.8 billion, with $14.3 billion being the mid-point, versus the consensus of $14.6 billion. Gross margin is seen at 63-64 percent for the quarter.
For the full-year 2012, the company sees revenue up between 3 percent and 5 percent year over year, down from the prior expectation for high single-digit growth. They see gross margin for the year at 64-65 percent.
Commenting on the quarter on CNBC, CFO Stacy Smith said Europe was "soft" and will remain that way. He also said China growth is "tempering."
After initially trading higher on the results, shares of Intel are now down 0.7 percent to $25.20.
Revenues during the quarter rose 3 percent from last year and 5 percent from the first quarter to $13.5 billion, but missed the Wall Street consensus calling for revenues of $13.56 billion and the Estimze consensus of $13.58 billion.
The company reported second quarter net income of $2.8 billion, or $0.54 per share. This was in-line with last year and up 2 percent from the first quarter. The results topped the Wall Street consensus of $0.52 by two cents and were in-line with the Estimze consensus of $0.54.
Looking ahead, Intel sees third quarter sales of $13.8-$14.8 billion, with $14.3 billion being the mid-point, versus the consensus of $14.6 billion. Gross margin is seen at 63-64 percent for the quarter.
For the full-year 2012, the company sees revenue up between 3 percent and 5 percent year over year, down from the prior expectation for high single-digit growth. They see gross margin for the year at 64-65 percent.
Commenting on the quarter on CNBC, CFO Stacy Smith said Europe was "soft" and will remain that way. He also said China growth is "tempering."
After initially trading higher on the results, shares of Intel are now down 0.7 percent to $25.20.
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