Intel (NASDAQ: INTC) released strong second-quarter 2019 results on Thursday after the markets closed, highlighting a surprising return to growth in PC chip sales and a narrower-than-expected decline from its data-centric business. After initially jumping more than 2% early Friday in response, shares of the computer processor leader turned modestly lower by the afternoon's trading. Let's look at how Intel ended the first half, and what investors should watch for the rest of the year. Intel's results: The raw numbers
Data source: Intel. What happened with Intel this quarter?
Working at a PC
Image source: Getty Images. What management had to sayIntel CEO Bob Swan said:
Speaking to the smartphone-modem business divestment, Swan added:
Looking forwardConsidering its strength in the first half, Intel now expects full-year revenue to arrive at roughly $69.5 billion, up $500 million from its previous target. Intel also lowered its bottom-line outlook to call for 2019 GAAP earnings per share of $4.10 (down from $4.14 before), while simultaneously raising its guidance for 2019 non-GAAP (adjusted) earnings to be roughly $4.40 per share (up from $4.35 previously). In the end, there was little not to like about this quarterly beat and raise from Intel. Though the market's enthusiasm was obviously tempered over concerns for just how many orders in the PC-centric segment were pulled forward on trade concerns, investors can take solace knowing Intel felt confident enough in its second-half prospects to increase its full-year adjusted earnings and revenue guidance anyway. More From The Motley Fool
Steve Symington has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Intel and has the following options: short September 2019 $50 calls on Intel, short January 2020 $155 calls on Apple, long January 2020 $150 calls on Apple, short January 2020 $155 calls on Apple, and long January 2020 $150 calls on Apple. The Motley Fool has a disclosure policy. Read More Intel Processes a Beat on Surprising PC-Centric Strength - Yahoo Finance : https://ift.tt/2ZeweLr
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