The Clap
Intel reported an EPS of $0.13 vs an expected loss per share of 3 cents and revenue of $12.9 billion vs $12.3 billion, beating analysts’ estimates on both the top and bottom lines.
What
The company expects an EPS of $0.20 and revenue of $13.4 billion in Q3 2023, a more optimistic forecast compared to analysts’ forecast.
So What
This quarter is Intel’s first profitable quarter after two quarters of losses. Following the report, Intel’s stock surged by almost 8% in after-hours trading.
Now What
According to Intel CEO Pat Gelsinger, Intel’s server chip sales are expected to recover starting Q4 of this year, with cloud companies focusing more on AI graphics processors instead of Intel’s central processors.
