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Intel exceeds expectations with strong quarterly figures - financial expert analyzes the effects
Chip giant Intel presented strong quarterly figures in the third quarter. Earnings per share were 41 cents, well above the expected 22 cents. Revenue was $14.16 billion, also above expectations of $13.53 billion. Compared to the same quarter last year, sales fell by eight percent. Intel has recorded declining sales for seven quarters. The good performance of the Intel subsidiary Mobileye, which specializes in self-driving cars, is particularly pleasing. Mobileye achieved revenue growth of 18 percent to $530 million. The operating result was eight million dollars, while in the previous quarter there was a loss of 33 million...
Intel exceeds expectations with strong quarterly figures - financial expert analyzes the effects
Chip giant Intel presented strong quarterly figures in the third quarter. Earnings per share were 41 cents, well above the expected 22 cents. Revenue was $14.16 billion, also above expectations of $13.53 billion. Compared to the same quarter last year, sales fell by eight percent. Intel has recorded declining sales for seven quarters.
The good performance of the Intel subsidiary Mobileye, which specializes in self-driving cars, is particularly pleasing. Mobileye achieved revenue growth of 18 percent to $530 million. Operating profit was $8 million, compared to a loss of $33 million in the previous quarter. Intel Foundry Services, a chip manufacturing division, generated revenue of $311 million, growing nearly 300 percent year-over-year.
The quarterly figures have led to a positive increase in the price of Intel shares. After hours, the price rose by almost six percent to $34.40. Mobileye shares had already risen by a good seven percent.
The strong quarterly figures give hope and could have a positive impact on the market and the industry. Intel is expected to reach its price target of 52 euros, which corresponds to a longer-term price potential of around 69 percent.
According to a report by www.deraktionaer.de
Read the source article at www.deraktionaer.de