Computer processor maker Intel (NASDAQ: INTC) will be reporting earnings this Thursday after the bell. Here’s what to look for.
Intel beat analysts’ revenue expectations last quarter, reporting revenues of $13.58 billion, up 7.2% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS and operating income estimates.
Is Intel a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Intel’s revenue to grow 12.3% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Intel rarely misses Wall Street’s revenue estimates.
Looking at Intel’s peers in the semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Penguin Solutions delivered year-on-year revenue growth of 47.6%, beating analysts’ expectations by 17.5%, and Micron reported revenues up 346%, topping estimates by 13.9%. Penguin Solutions traded up 25.1% following the results.
Read our full analysis of Penguin Solutions’s results here and Micron’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). Unfortunately, semiconductors stocks have struggled in this environment as share prices are down 17.7% on average over the last month. Intel is down 24.7% during the same time and is heading into earnings with an average analyst price target of $107.15 (compared to the current share price of $106.08).
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