Chip giant Intel (INTC) this afternoon reported Q2 revenue and profit that topped analysts' expectations, forecast this quarter above consensus, and raised its year outlook, citing higher expectations for personal computer sales this year. Revenue in the three months ended in June rose to $14.8 billion, yielding EPS of 72 cents, excluding some costs. Analysts had been modeling $14.4 billion and 68 cents per share. Intel's division selling chips for PCs, "Client computing," saw sales rise 12% from the prior-year period to $8.2 billion. Server-chip sales were up 9% at $4.4 billion, the Internet of Things group was up 26% any $720 million, the memory-chip business was up 58% at $874 million, and "programmable solutions" was down 5%. Intel raised its outlook for the full year, now forecasting revenue of $61.3 billion, up from the prior $60 billion estimate, and raised its EPS outlook to $2.66, at the midpoint, up 10 cents from the prior estimate. For the current quarter, the company sees revenue of $15 billion to $16.2 billion, and kESP of 75 cents to 80 cents, on a non-GAAP basis. That compares to consensus for $15.32 billion and 74 cents per share. Said CFO Bob Swan, "We feel great about where we are relative to our three year plan, and heading into the second half." "Intel's transformation continues in the third quarter when we expect to complete our planned acquisition of Mobileye." "Based on our strong first-half results and higher expectations for the PC business, we're raising our full-year revenue and EPS forecast." Read More Intel Jumps 4% on Q2 Beat Driven by PC Sales; Raises Year View : http://ift.tt/2u3aIsD
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