Intel 2Q Solid As Usual
Intel had another strong quarter with revenue at the high end of expectations and earnings up substantially year over year. As we enter the second half, demand remains strong for our microprocessor and chipset products in all segments and all parts of the globe.
– Paul Otellini, CEO, Intel
Intel (INTC) reported a solid 2nd quarter after the close today. Revenues of $9.47 billion came in ahead of analysts estimates for $9.32 billion as did EPS of 28 cents compared to estimates for 25 cents. Gross margin was solid at 55.4%. They forecast revenue between $10.0 – $10.6 billion for the third quarter compared to estimates for $10.07 (INTC Earnings Release).
We don’t need anything spectacular here. We just need to avoid bad news. This suits me just fine.
Disclosure: Top Gun has no position in Intel (INTC).