Intel Results Just Barely Better, Forecast Slips
Intel Corp. (NASDAQ: INTC) reported second quarter results after markets closed today, and the company posted EPS of $0.54 on revenue of $13.5 billion. Earnings estimates called for $0.52 EPS and $13.57 billion in sales, and third quarter estimates were$0.65…
In its guidance for the third quarter, the world’s largest chipmaker forecast revenue of $14.3 billion (+/- $500 million) and non-GAAP gross margins of 64%, within a point or two either way. The consensus revenue estimate had called for $14.6 billion.
For the full fiscal year, Intel guided revenue up 3%-5% over fiscal 2011 revenue of $54 billion. The consensus estimate had been $56.53 billion, at the upper end of Intel’s new guidance which tops out at $56.7 billion. Full year non-GAAP gross margins are forecast at 65%.
Intel’s president and CEO said:
As we enter the third quarter, our growth will be slower than we anticipated due to a more challenging macroeconomic environment.
Intel’s shares were up nearly 1.5% in after-hours trading, at $25.73 in a 52-week range of $19.16-$29.27.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
