Intel Corporation’s (INTC) first-quarter release reported adjusted earnings of 87 cents a share on sales of $18.35 billion, beating estimates of 78 cents a share on sales of $18.33 billion for the March-ended quarter. On a year-over-year basis, Intel earnings declined 35% while sales dropped 1%. Intel’s PC chip sales declined 13% to $9.3 billion.
However, the chip giant’s other business units posted revenue gains in the period. Intel’s data-center business also witnessed sales rise 22% to $6 billion in the first quarter. For the current June quarter, Intel expects to earn an adjusted 70 cents a share on sales of $18 billion, below Wall Street estimates of 80 cents a share on sales of $18.34 billion. Intel expects full-year adjusted earnings of $3.60 a share on sales of $76 billion, above analysts’ expectation of $3.37 a share on sales of $74.9 billion.
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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