Intel beats as PC platform volume increases 33% from last year
- Intel reported second-quarter earnings on Thursday in CEO Pat Gelsinger's second earnings report at the helm of the American chip giant.
- Intel said that PC unit sales were up 33% over last year.
- However, Intel guided to non-GAAP gross margins of 55% in Q3, a notable drop from 59.2% in Q2.
Intel shares fell 2% after CEO Pat Gelsinger's second earnings report at the helm of the American chip giant as investors assessed cautionary guidance on margins in the current quarter.
Intel reported revenue and earnings per share that beat both the company's own forecast as well as Wall Street expectations, attributing the beat to strength in its business unit that produces chips for PCs. Intel said that PC unit sales were up 33% over last year.
Here's how Intel did versus Refinitiv consensus estimates for the quarter ending in June:
- Earnings per share (EPS): $1.28 (adjusted) vs. $1.06 expected, up 12% year-over-year
- Revenue: $18.5 billion (adjusted) vs $17.8 billion expected, up 2% year-over-year
Intel raised its guidance for 2021 by $1 billion to $73.5 …
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