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Intel up +6% as it returns to profitability after two quarters of losses
- Earnings per share: $0.13, adjusted
- Revenue: $12.9 billion
- Net income of $1.5 billion, or earnings of $0.35 per share, (vs. a net loss of $454 million, or a loss of 11 cents per share in the same quarter last year)
- Revenue fell to $12.9 billion from $15.3 billion a year ago, marking the sixth consecutive quarter of declining sales for the company.
Intel expects earnings of $0.20 per share for the third quarter, adjusted, on revenue of $13.4 billion (versus analyst expectations of 16 cents per share on $13.23 billion in sales.)
- Intel management has told investors that the firm’s turnaround will take time
- $INTC is aiming to match $TSM's chip manufacturing prowess by 2026 (which would enable it to bid to make the most advanced mobile processors for other companies.)
Declines
- Laptop and desktop processor shipments fell 12% annually to $6.8 billion
- The overall PC market has been slumping for over a year
- Data Center and AI, declined 15% to $4.0 billion in sales
- In the first quarter, Intel posted its largest loss ever as the PC and server markets slumped and demand declined for Intel’s central processors.
Intel’s results on Thursday beat the forecast that management gave for the second quarter at the time. Results were stronger than expected partly because Intel slashed $3 billion in costs this year.
CNBC
Intel reports largest quarterly loss in company history
The loss per share was slightly better than soft Wall Street expectations.
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