When Intel Corp. (NASDAQ: INTC) reported its second-quarter financial results after the markets closed on Thursday, the semiconductor giant said that it had $0.72 in earnings per share (EPS) and $14.8 billion in revenue. That compared with consensus estimates from Thomson Reuters of $0.68 in EPS and revenue of $14.41 billion. In the same period of last year, Intel posted EPS of $0.59 and $13.5 billion in revenue.
In terms of its segments the company reported:
- Client Computing Group revenues grew 12% to $8.2 billion year over year.
- Data Center Group revenues were up 9% to $4.4 billion.
- Internet of Things Group revenues increased 26% to $720 million.
- Non-Volatile Memory Solutions Group revenues grew 58% to $874 million.
- Programmable Solutions Group revenues fell 5% to $440 million.
The outlook for the third quarter was given as $0.80 in EPS, give or take five cents, and revenues at $15.7 billion, give or take $500 million. The consensus estimates are $0.74 in EPS and $15.32 billion in revenue.
On the books, Intel cash, cash equivalents and short-term investments totaled $14.8 billion at the end of the quarter, up from $8.8 billion at the end of the previous fiscal year.
Brian Krzanich, Intel CEO, commented:
Q2 was an outstanding quarter with revenue and profits growing double digits over last year. We also launched new Intel Core, Xeon and memory products that reset the bar for performance leadership, and we’re gaining customer momentum in areas like AI and autonomous driving. With industry-leading products and strong first-half results, we’re on a clear path to another record year.
Shares of Intel closed Thursday up at $34.97, with a consensus analyst price target of $39.53 and a 52-week range of $33.23 to $38.45. Following the release of the earnings report, the stock was only up about 1.3% at $35.43 in early trading indications Friday.