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Tech Giant Intel Beats Q3 Expectations

By John F. Heerdink, Jr.

Tech giant Intel Corporation (INTC) released its Q3 earnings report recently.

Here are key highlights from the earnings report:

• Revenue of $19.19 billion was reported, beating expectations at 18.05 billion.
• Adjusted EPS of $1.42 per share, versus $1.24 was reported.
• Company’s Client Computing Group dealing in processors for desktop PCs, laptops and two-in-one devices, produced a revenue of $9.71 billion.
• Data Center Group focussed on server chips produced $6.38 billion in revenue, above the $5.62 billion FactSet consensus estimate.
• $1.23 billion revenue was reported by the Internet of Things Group segment, beating expectations at $1.12 billion.
• Intel lifted its full-year guidance to $4.60 in earnings per share, excluding certain items, on $71 billion in revenue, implying 0.2% annualized revenue growth.

“We expect our second-half PC client supply will be up double-digits compared to the first-half, and we expect to further increase our PC client supply by mid-to-high single-digits in 2020, but that growth hasn’t been sufficient,” stated CEO, Bob Swan

“We’re letting our customers down and they’re expecting more from us.” Demand strength for PC chips is still outstripping supply”, stated  company’s chief financial officer, George Davis.

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 stock pops on earnings beat and return to growth in CNBC)