Intel (INTC) Q2 Earnings: What To Expect

Computer processor maker Intel (NASDAQ:INTC) will be reporting results this Thursday after market close. Here’s what to expect.

Intel beat analysts’ revenue expectations by 2.6% last quarter, reporting revenues of $12.67 billion, flat year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EPS estimates but revenue guidance for next quarter slightly missing analysts’ expectations.

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 decline 7.1% year on year to $11.93 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.01 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 twice over the last two years.

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 7.9%, missing analysts’ expectations by 1.4%, and Micron reported revenues up 36.6%, topping estimates by 4.9%. Penguin Solutions traded up 10.6% following the results while Micron was down 1.2%.

Read our full analysis of Penguin Solutions’s results here and Micron’s results here.

There has been positive sentiment among investors in the semiconductors segment, with share prices up 7.8% on average over the last month. Intel is up 10.4% during the same time and is heading into earnings with an average analyst price target of $21.71 (compared to the current share price of $23.40).

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