Intel shares rally nearly 6 percent on strong second quarter

Intel announced second-quarter revenue of $16.5 billion and non-GAAP EPS of $1.06, which is quite a lot better than expected. Analyst estimates for Intel's Q2 were $16.5 billion in revenue and $1.06 in earnings per share. The chip giant also increased its guidance for the full year, it now expects revenue of $69.5 billion, up $500 million versus April guidance, and non-GAAP EPS of $4.40. Intel's stock is currently up 5.92 percent to $55.25 in after-hours trading.

News Summary:

Second-quarter revenue of $16.5 billion, down 3% year-over-year (YoY), exceeded April guidance. IOTG achieved record revenue. Data-centric revenue declined 7 percent; PC-centric revenue grew 1 percent YoY.

Second-quarter earnings-per-share (EPS) exceeded April guidance. GAAP EPS of $0.92 declined 12 percent YoY; non-GAAP EPS of $1.06 was up 2 percent.

Announced an agreement for Apple to acquire the majority of Intel’s smartphone modem business.

Raising full-year revenue outlook to $69.5 billion, up $500 million from April guidance. Now expecting full-year GAAP EPS of $4.10 and raising full-year non-GAAP EPS outlook to $4.40.

SANTA CLARA, Calif., July 25, 2019 -- Intel Corporation today reported second-quarter 2019 financial results. “Second quarter results exceeded our expectations on both revenue and earnings, as the growth of data and compute-intensive applications are driving customer demand for higher performance products in both our PCcentric and data-centric businesses,” said Bob Swan, Intel CEO. “Based on our outperformance in the quarter, we’re raising our full-year guidance. Intel’s ambitions are as big as ever, our collection of assets is unrivaled, and our transformation continues.”

The full earnings release can be scrutinized over here.