SAN FRANCISCO (MarketWatch)
Intel Corp. on Wednesday reported a second-quarter profit of $2.95 billion, or 54 cents a share, compared with a profit of $2.89 billion, or 51 cents a share, for the year-earlier period.
Revenue was $13 billion, up from $10.8 billion.
Adjusted income was 59 cents a share.
Analysts had expected the company to report earnings of 51 cents a share on revenue of $12.8 billion, according to a consensus survey by FactSet Research.
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SAN FRANCISCO (MarketWatch) — Intel Corp. posted a modest gain in profit, as the chip maker beat Wall Street’s projections on solid corporate demand.
Shares of Intel slipped about 1% in after-hours trading.
The Santa Clara, Calif.-based company reported a second-quarter profit of $2.95 billion, or 54 cents a share, compared with $2.89 billion or 51 cents a share in the year-earlier period.
Revenue was $13 billion, up from $10.8 billion. Adjusted income was 59 cents a share.
Analysts had expected the company to report earnings of 51 cents a share on revenue of $12.8 billion, according to a consensus survey by FactSet Research.
For the current quarter, the company said it expects adjusted revenue of $14.1 billion, plus or minus $500 million.
Analysts had expected the company to report revenue of $13.5 billion, according to data from FactSet Research.
In a statement, Chief Executive Paul Otellini cited “strong corporate demand for our most advanced technology, the surge of mobile devices and Internet traffic fueling data-center growth and the rapid rise of computing in emerging markets” as factors that drove the company’s results.
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