Intel 2Q Results: Postgame Scorecard
Intel's (NASDAQ:INTC) net income decreased in the second quarter.
Earnings and Revenue The company's EPS outpaced analyst estimates while the company's revenues came in line with predictions. The company reported EPS of 54 cents a share versus the 52 cents a share estimate and revenues of $13.5 billion versus the $13.56 billion estimate. The estimates of 34 analysts ranged from profit of 47 cents to profit of 56 cents.
The company's net income for the quarter was $2.8 billion. According to the reported number, this is down 5.2% from last year's levels. Revenue climbed 3.6% from $13.03 billion in the same period last year.
Company Fundamental Trends This marks the second quarter in a row that the company's net income has fallen after profits tumbled 13.4% in the first quarter. The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations The company has now topped analyst estimates for at least the last four quarters. It beat by 3 cents in the first quarter, 3 cents in the fourth quarter of the last fiscal year and 4 cents in the third quarter of the last fiscal year.
Official Comment: "The second quarter was highlighted by solid execution with continued strength in the data center and multiple product introductions in Ultrabooks and smartphones," said Paul Otellini, Intel president and CEO. "As we enter the third quarter, our growth will be slower than we anticipated due to a more challenging macroeconomic environment. With a rich mix of Ultrabook and Intel-based tablet and phone introductions in the second half, combined with the long-term investments we're making in our product and manufacturing areas, we are well positioned for this year and beyond."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.