Intel Corporation (NASDAQ: INTC) is having an incredibly strong start to the trading session this morning, and for good reason. The company reported earnings, not only beating Wall Street expectations but also increasing expectations for the full-year. Of course, this led to excitement among investors, causing gains in the value of the stock and leading to an alert from our partners at Trade Ideas. Currently (9:57), INTC is trading at $43.50 per share after a gain of $2.15 per share or 5.19% thus far today.
INTC Gains On Strong Earnings
As mentioned above, Intel Corporation is having an incredibly strong start to the trading session this morning after reporting better-than-expected earnings for the third quarter and raising its outlook for the full year. Here’s what we saw from the earnings report:
- Earnings Per Share – In terms of earnings per share, INTC did incredibly well. During the quarter, analysts expected that the company would generate earnings in the amount of $0.80 per share. However, the company actually reported earnings in the amount of $1.01 per share, beating expectations by $0.21 per share.
- Revenue – Top-line revenue also proved to be a big hit for the company. During the third quarter, analysts expected that INTC would generate revenue in the amount of $15.73 billion. However, the company actually reported revenue in the amount of $16.15 billion.
- Client Computing Revenue – Client computing represents a large portion of the overall revenue generated by Intel Corporation, and this segment definitely did well in the third quarter. During the quarter, it was expected that client computing would come in with revenue of $8.68 billion. However, the company actually reported client computing revenue in the amount of $8.86 billion.
- Data Center Revenue – Data center revenue is also improving at INTC. During the quarter, it was expected that data center revenue would come in at $4.79 billion. However, the company reported revenue from data center products in the amount of $4.88 billion.
- Increase Guidance – Finally, INTC said that it is expecting for full year earnings to come in at $3.25 per share and full year revenue to come in at $62 billion. This proved to be a significant increase from previous guidance of full year earnings at $3.00 per share on $61.3 billion in revenue.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on INTC. In particular, we’re interested in following the ongoing growth in both client computing and data center revenues, which account for around three quarters of the company’s entire revenue. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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