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Intel Reported Revenue of $19.83 Billion In Q1

By John F. Heerdink, Jr.

Intel Corporation (INTC) released Q1 earnings recently reporting EPS of $1.45 per share and revenue of $19.83 billion. Revenue increased 23% on an annualized basis for the quarter ending March 28, above the company’s $19.00 billion forecasts.

The company expects $1.10 in adjusted earnings per share and $18.50 billion in revenue in the second quarter, below analysts’ expectations of $1.19 per share on $17.97 billion in revenue. The company declined to discuss the full-year guidance amid the existing economic uncertainty due to the COVID-19 pandemic.

Intel’s Client Computing Group including PC chips generated $9.78 billion in revenue for the quarter. The Data Center Group which includes chips for cloud providers and enterprise-focused server makers reported $6.99 billion in revenue. Revenue from the Internet of Things division stood at $1.14 billion, up 1.6% from market estimates.

“The company maintained essential factory operations with greater than 90 percent on-time delivery while supporting employees, customers, and communities in response to the Covid-19 pandemic,” Intel said in Thursday’s statement.

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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(Read Original Story: Intel shares drop on low Q2 guidance in CNBC)


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