Intel dips after posting 23% revenue growth
Demand for Intel's products was relatively strong in the quarter, with people needing devices to work or learn from home.Christoph Dernbach | picture alliance | Getty ImagesHere are the key numbers:Analysts polled by Refinitiv had expected $1.28 in earnings per share on an adjusted basis and $18.70 billion in revenue. Comparing the results against analysts' estimates is not straightforward, though, given that the coronavirus impacted economies around the world during the quarter.
Revenue rose 23% on an annualized basis in the quarter that ended on March 28, coming in above the company's $19.00 billion forecast, according to aWith respect to guidance, Intel said it expects $1.10 in adjusted earnings per share and $18.50 billion in revenue in the second quarter. Analysts polled by Refinitiv had expected adjusted second-quarter earnings of $1.19 per share on $17.97 billion in revenue.Intel's Client Computing Group, which includes PC chips, produced $9.
The Data Center Group, including chips for cloud providers and enterprise-focused server makers, posted $6.99 billion in revenue, growing 42.7% and greater than the FactSet consensus of $6.32 billion.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Senate: 2017 intel report about Russian meddling and Trump was correctA bipartisan US Senate report says the 2017 intel assessment about Russian interference in the 2016 US election was accurate. “The Committee found no reason to dispute the Intelligence Community’s conclusions.'
Read more »
U.S. service sector PMI slumps to record low in AprilThe IHS Market flash purchasing managers index for services fell to a record low 27 in April while the manufacturing PMI dropped to 36.9.
Read more »
New DOJ guidance: Federal prisoners up for coronavirus-related release must have served 50% of sentenceNEW: DOJ issues guidelines to federal prison system requiring that prisoners eligible for release to home confinement amid coronavirus outbreak must have served at least 50% of their prison sentence, according to Bureau of Prisons memo obtained by ABC.
Read more »
Oil price: Brent crude follows WTI down amid supply glut, storage woes - Business InsiderBrent slid below $20 a barrel on Tuesday as sentiment from US oil prices turning negative the first time rippled through all markets.
Read more »
YouTube CEO suggests platform will ban videos contradicting WHO guidance - Business InsiderYouTube's CEO suggested content that 'goes against' WHO guidance on the coronavirus will get banned
Read more »
New Apple MacBook processors based on upcoming iPhone 12 chips: report - Business InsiderThe new MacBooks will reportedly be powered by chips like those in the new iPhone — and could be Apple's first without Intel processors since 2006.
Read more »