Can Intel Do It Again With Q3 Earnings?
Intel is set to report its most recent quarterly results after the markets close on Thursday.
Intel Corp. (NASDAQ: INTC | INTC Price Prediction) is set to report its most recent quarterly results after the markets close on Thursday. For the third quarter, the consensus estimates are $1.24 in earnings per share (EPS) and $18.05 billion in revenue. The same period of last year reportedly had $1.40 in EPS and $19.16 billion in revenue.
The company previously issued guidance for the third quarter. Intel was calling for revenues of roughly $18.0 billion and EPS of $1.24.
In the second quarter, Intel revenue dropped 3% year over year but exceeded April guidance. The IOTG achieved record revenue and data-centric revenue declined 7%; PC-centric revenue grew 1% in this time as well.
Overall, second-quarter results exceeded expectations on both revenue and earnings, as the growth of data and compute-intensive applications drove customer demand for higher performance products in both the PC-centric and data-centric businesses. Based on the outperformance in the second quarter, Intel raised its full-year guidance.
Excluding Thursday’s move, Intel had underperformed the broad markets, with its stock up about 10% year to date. In the past 52 weeks, the stock was actually up about 15%.
A few analysts weighed in on Intel ahead of the report:
- Northland Securities rates it as Hold with a $48 price target.
- Loop Capital has a Hold rating with a $50 price target.
- Robert Baird has a Buy rating with a $65 price target.
- Nomura has a Buy rating with a $65 price target.
- Tigress Financial has a Buy rating.
Shares of Intel traded up 1% to $52.33 on Thursday, in a 52-week range of $42.86 to $59.59. The consensus price target is $53.13.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
