Intel: 2Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Intel Corp. (INTC) on Thursday reported second-quarter profit of $4.18 billion.
The Santa Clara, California-based company said it had net income of 92 cents per share. Earnings, adjusted for one-time gains and costs, were $1.06 per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The world’s largest chipmaker posted revenue of $16.51 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $15.6 billion.
For the current quarter ending in October, Intel expects its per-share earnings to be $1.24. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.14.
The company said it expects revenue in the range of $18 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $17.69 billion.
Intel expects full-year earnings to be $4.40 per share, with revenue expected to be $69.5 billion.
Intel shares have risen 11% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Thursday, shares hit $52.16, a drop of 0.5% in the last 12 months.