Can Intel Do It Again With Q3 Earnings?

Intel Corp. (NASDAQ: INTC) 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.