Intel Reports Best Ever Quarterly Earnings Results
Jul 13, 2010 Company News, Earnings, Stock to watch
Technology bellwether Intel (INTC) today reported 2010 second quarter earnings results that handily beat analysts’ estimates. According to the company, this was its best quarter ever. For the period, the company reported that revenues rose 34% to $10.765 billion, from $8.024 billion in the year ago period.
Operating income rose from a loss of $12 million in Q2 2009, to $3.98 billion, while net income rose to $2.88 billion, from a loss of $398 million Q2 2009. Results from the second quarter of 2009, were affected by a $1.06 billion fine that was levied on the company by the European Union.
The company’s gross margin, which is closely followed by analysts, rose to 67%, from 51% a year ago. Intel had previously announced that it expects to realize margins of 64%, plus or minus 2%.
On a per share basis, the company earned $0.51, compared to the $0.43 analysts had been forecasting, on revenues of $10.25 billion. The company had also provided its own revenue guidance of $10.2 billion, plus or minus $400 million.
Intel’s stock rose as much as $1.72 or 8.1% in after hours trading on the news.
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