Intel Brings Mixed Earnings, a Tad Early
Wikimedia CommonsIntel 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…
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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.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.