Intel Corp (INTC)

[VeeCee]

Intel handily beats earnings and revenues
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Intel Surges 8%: Q2 Revenue, EPS Beat; Q3 Rev View ; Trims Year View
By Tiernan Ray
Chip giant Intel (INTC) this afternoon reported Q2 revenue and earnings that topped analysts’ expectations, and beat with its Q3 revenue view as well, and trimmed its year outlook. The shares surged in late trading.

Revenue in the three months ended in June rose to $13.2 billion, yielding EPS of 55 cents.

Analysts had been modeling $13 billion and 50 cents per share.

Intel’s revenue from its “client computing group” dropped 14%, while its “data center group,” which sells server chips, saw a 10% jump.

CEO Brian Krzanich said the results “demonstrate the transformation of our business,” and that the company expects the debut of its new “Skylake” chip later in the year, and the roll-out of Microsoft’s Windows 10, will “bring excitement to client computing.”

For the current quarter, the company sees revenue of 13.8 billion to $14.8 billion, which, at the midpoint, is above consensus for $14.06 billion.

For the full year, the company trimmed its outlook, with revenue expected down 1%, versus a view back in April for revenue to be flat. That is still better than the consensus for a 2% decline this year.

Intel stock is up $2.35, or almost 8%, in late trading.