Summary

Intel Beats

Intel (INTC) reported 2nd Quarter June 2020 earnings of $1.23 per share on revenue of $19.7 billion. The consensus earnings estimate was $1.11 per share on revenue of $18.5 billion. The Earnings Whisper number was $1.14 per share. Revenue grew 19.5% on a year-over-year basis.

The company said it expects third quarter earnings of approximately $1.10 per share on revenue of approximately $18.20 billion. The current consensus earnings estimate is $1.16 per share on revenue of $17.96 billion for the quarter ending September 30, 2020. The company also said it expects 2020 earnings of approximately $4.85 per share on revenue of approximately $75.0 billion. The current consensus earnings estimate is $4.82 per share on revenue of $73.85 billion for the year ending December 31, 2020.

Intel Corporation is a semiconductor chip maker. It develops integrated digital technology products like integrated circuits, for industries such as computing and communications.

Earnings Release

Intel Reports Second-Quarter 2020 Financial Results

News Summary:

Second-quarter revenue of $19.7 billion was up 20 percent year-over-year (YoY). Data-centric revenue* grew 34 percent, accounting for 52 percent of total revenue; PC-centric revenue grew 7 percent YoY.
Second-quarter GAAP earnings-per-share (EPS) was $1.19, up 29 percent YoY; non-GAAP EPS of $1.23 was up 16 percent.
Year-to-date, generated $17.3 billion cash from operations and $10.6 billion of free cash flow and paid dividends of $2.8 billion.
Accelerating 10nm product transition; 7nm product transition delayed versus prior expectations.
Expecting full-year revenue of $75 billion; GAAP EPS of $4.53 and non-GAAP EPS of $4.85.

SANTA CLARA, Calif., July 23, 2020 -- Intel Corporation today reported second-quarter 2020 financial results.

“It was an excellent quarter, well above our expectations on the continued strong demand for computing performance to support cloud-delivered services, a work- and learn-at-home environment, and the build-out of 5G networks,” said Bob Swan, Intel CEO. “In our increasingly digital world, Intel technology is essential to nearly every industry on this planet. We have an incredible opportunity to enrich lives and grow this company with a continued focus on innovation and execution."

For the full press release, please go here.