Intel (INTC) Stock Drops Despite Beating Q2 Earnings Expectations

Shutterstock photo

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Intel (NASDAQ: INTC ) reported its latest quarterly earnings results late in the day Thursday, which were well ahead of Wall Street's expectations but shares still declined after hours.

INTC stock Source: Shutterstock

The Silicon Valley tech giant brought in second-quarter adjusted earnings of $1.04 per share, ahead of the 96 cents per share that analysts were calling for in the Wall Street consensus estimate to reach its midpoint of fiscal 2018 in style. The outlook was compiled through a  Thomson Reuters  survey.

Intel added that it brought in strong revenue for the period of $16.96 billion, which marked a 15% increase compared to the year-ago quarter. Analysts were calling for the company to amass revenue of $16.77 billion, according to data compiled by Thomson Reuters.

The company's Client Computing Group is its most profitable segment, raking in revenue of $8.73 billion, ahead of the  FactSet projection of $8.48 billion. Intel's Data Center Group is its second-largest segment and it tallied up $5.55 billion in sales, missing the $5.64 billion guidance.

For its third quarter of fiscal 2018, the tech giant sees adjusted earnings at $1.15 per share in its midpoint, better than the $1.08 per share that analysts polled by Thomson Reuters are forecasting. Revenue is slated to be around $18.1 billion for the quarter, better than the $17.60 billion that Wall Street was calling for, per Thomson Reuters.

INTC stock was down about 0.5% during regular trading hours Thursday as the company geared up to release its latest quarterly earnings results. The company's shares fell about 4.5% after the bell.

More From InvestorPlace

Compare Brokers

The post Intel (INTC) Stock Drops Despite Beating Q2 Earnings Expectations appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: INTC

More from InvestorPlace Media


InvestorPlace Media

InvestorPlace Media

Investing, Financial News

Research Brokers before you trade

Want to trade FX?