Yahoo Finance Earnings To Watch: Intel (INTC) Reports Q2 Results Tomorrow
Computer processor maker Intel (NASDAQ:INTC) will be reporting earnings tomorrow afternoon. Here's what to look for.
Intel met analysts' revenue expectations last quarter, reporting revenues of $12.72 billion, up 8.6% year on year. It was a decent quarter for the company, with a significant improvement in its gross margin but underwhelming revenue guidance for the next quarter.
Is Intel a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Intel's revenue to be flat year on year at $12.98 billion, improving from the 15.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Intel has missed Wall Street's revenue estimates three times over the last two years.
Looking at Intel's peers in the processors and graphics chips segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Qorvo delivered year-on-year revenue growth of 36.2%, beating analysts' expectations by 4.1%, and AMD reported revenues up 8.9%, topping estimates by 2%.
Read our full analysis of Qorvo's results here and AMD's results here.
Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance thanks to mixed inflation data, and while some of the processors and graphics chips stocks have fared somewhat better, they have not been spared, with share prices down 7.3% on average over the last month. Intel is down 1.9% during the same time and is heading into earnings with an average analyst price target of $38.6 (compared to the current share price of $30.48).
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