Intel Corp (NASDAQ:INTC) reported second-quarter financial results after the market close on Thursday. Here’s a rundown of the chipmaker’s report.
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Intel Q2 Earnings Highlights
Intel posted second-quarter revenue of $16.13 billion, beating analyst estimates of $14.42 billion. The company reported second-quarter adjusted earnings of 42 cents per share, doubling estimates of 21 cents per share, according to Benzinga Pro.
Total revenue in the quarter was up 25% on a year-over-year basis. Here’s a breakdown of revenue by category:
- Client Computing and Physical AI Group: $8.9 billion, up 13% year-over-year
- Data Center and AI: $6.3 billion, up 59% year-over-year
- Intel Foundry: $5.8 billion, up 31% year-over-year
- Total Intel Products: $15.1 billion, up 28% year-over-year
- All Other: $700 million, down 33% year-over-year
Intel generated $7 billion in cash from operations during the quarter and ended the period with approximately $12.87 billion in cash and cash equivalents.
“AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network,” said Lip-Bu Tan, CEO of Intel.
“Our Q2 results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus.”
Intel expects third-quarter revenue to be in the range of $15.8 billion to $16.8 billion versus estimates of $15.01 billion. The company anticipates third-quarter adjusted earnings of 38 cents per share versus estimates of 24 cents per share.
Intel executives will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
INTC Shares Rise After The Bell
INTC Price Action: Intel shares were up 8.15% in after-hours Thursday, trading at $108.40 at the time of publication, according to Benzinga Pro.
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