Intel Corporation (INTC) released their second-quarter ended June 26 earnings, reporting $18.5 billion in adjusted sales beating estimates of $17.80 billion. The company earned $1.28 per share higher than estimates of $1.06. Revenue from its data center business decreased 9% to $6.5 billion in the quarter, while its personal computing business revenue increased 6%, beating estimates.
Intel raised its previous annual forecast of $1 billion from its earlier $72.5 billion, beating expectations of $72.80 billion. Intel expects adjusted third-quarter revenue of about $18.2 billion, slightly above estimates of $18.09 billion.
Intel Chief Executive Officer Pat Gelsinger expressed how the company could sell more chips if it could manufacture more chips. Intel still faces supply constraints from its own suppliers of materials and equipment.
Gelsinger also informed on a conference call that he expects the PC market to keep growing into 2022, in contradiction to the predictions of some analysts.
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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