Intel Corp. (NASDAQ: INTC) was up by 2% going into earnings today, in part led by a new leak on Bloomberg at the end of the trading day that came out right before the closing bell. The processor and chip giant reported adjusted earnings $0.51 EPS ($0.48 EPS net) and $13.5 billion in sales. Thomson Reuters had estimates of $0.45 EPS and $13.53 billion in sales.
Intel’s gross margin was put at 58% for the quarter as well and the company said that the quarter played out mostly as expected. For the coming quarter, Intel sees revenues of $12.7 billion, with its usual plus-or-minus $500 range on it. Thomson Reuters has the coming quarterly earnings report showing a consensus of about $12.9 billion in revenue.
What has been amazing is the recovery we have seen in intel despite what is nothing short of a very weak PC economy that is growing to be dominated by tablets and smartphones. After closing at $22.68, the 52-week range is $19.23 to $29.27 and that 52-week low was as recently as November.
The after-hours reaction has been mixed and shares are currently trading down close to 2% at $22.20 so far.