Intel posts its highest rate of revenue growth in 15 years, crushing expectations in its latest results
Chipmaker Intel Corp. delivered better-than-expected results today after recording its fastest rate of revenue growth for any quarter since 2011. It also provided guidance that topped analyst’s expectations, sending its stock higher in after-hours trading.
The company absolutely crushed expectations, reporting earnings before certain costs such as stock compensation coming to 42 cents per share, way ahead of Wall Street’s 21 cent-per-share consensus estimate. Revenue for the period grew 25% to $16.1 billion, surpassing the $14.42 billion analyst forecast by a wide margin too.
Intel’s stock posted a modest gain of just over 3% in the late trading session, but its performance over the entire year has been much more impressive. The shares have now gained more than 170% in the year to date, having jumped 84% last year after the U.S. government revealed its plan to take a 10% stake in the company in order to support the domestic chip industry.
That said, Intel’s stock had been in a bit of a slump this month prior to today’s results, losing 28% of its value in July before today’s results arrested that slide.
