Dow 30 component, Intel Corporation (INTC) reported Q3 earnings this week, in-line with analyst expectations but lacked growth in its data center business.
Here’s how the company performed:
- An EPS of $1.11 per share was reported in-line with expectations.
- Revenue stood at $18.33 billion, versus $18.25 billion as expected.
- Intel’s Data Center Group came up with $5.91 billion in revenue, down 7%, and less than the market estimate of $6.21 billion.
- Intel’s largest business, the Client Computing Group dealing in PC chips, produced $9.85 billion in revenue.
- Intel’s Non-Volatile Memory Solutions Group had $1.15 billion in revenue, reporting an 11% drop, and below $1.50 billion estimates.
- Revenue from enterprises and governments declined 47%
- Cloud revenue in the quarter grew by 15%.
- Intel said it expects $1.10 in adjusted earnings per share on $17.4 billion in revenue for the next quarter.
Intel Corporation (INTC) seeks to expand the boundaries of technology to provide the most amazing experience possible while designing, manufacturing, and selling integrated digital technology globally. To learn more about Intel Corporation (INTC) and to track its progress please visit the Vista Partners Intel Corporation Coverage Page.
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