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Intel 3Q Results Dip But Beat Wall Street Estimates
SANTA CLARA Intel handily beat Wall Street estimates on revenue and earnings per share in its third quarter report Tuesday, aided by the growth of cloud computing. The firm had revenue of $14.50 billion for the quarter, compared to analyst estimates of $14.22 billion. The shares saw high fund-flow as the composite value of all the upticks was $15.59 million and the total value of all the downticks was a mere $7.37 million.
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Fourth-quarter revenue will be $14.8 billion, plus or minus $500 million, the company said Tuesday. During the same quarter in the previous year, the business posted $0.66 earnings per share. In July, Bernstein Research analyst Stacy Rasgon downgraded the stock, noting that its outlook for the data center for the second half of 2015 “appears hugely optimistic, calling for the strongest (second half) we’ve ever seen”. The firm believes that a key takeaway from next month’s Intel analyst meeting will be the company’s FY16 gross margin guidance, which is likely to be around 62%. But while CCG profits fell by 20 percent that quarter, Intel still recorded flat revenue because profits at DCG, which include SSDs and Xeon chips, are up 9.3 percent.
Decelerating growth and lower expectations are bad indicators for other companies that rely on these markets. Results in the Data Center Group, where it sells chips for use in servers and networking gear, rose 12 percent to $4.1 billion. “They’re performing well despite a challenging market, ” santacruzsentinel.com reported.
Intel Corporation (NASDAQ:INTC) traded up 1.34% on 14 October, hitting $32.47. Following the sale, the president now owns 5,601 shares in the company, valued at approximately $168,030.
Despite concerns about Intel’s Big Data Group, Intel executives assured analysts during the earnings call that the company continues investing heavily in all aspects of big data, including networking and infrastructure.
Buyers also may be putting off purchases until the arrival of PCs built with Skylake, a long-awaited overhaul of Intel’s flagship Core line of microprocessors, which aren’t expected to reach many consumers until later this fall.
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Intel’s Internet of Things Group revenue was £380 million, up 4 percent sequentially and up 10 percent year-over-year. What the quarterly financial numbers show is a company that is adapting to the rapid changes that are roiling much of the tech industry, with the growing importance of not only the cloud business, but other areas such as memory and the Internet of things (IoT).