said it is raising its estimates for revenue this year because it sees strong growth related to the PC market, artificial intelligence, and self-driving cars.
The company was expected to post non-GAAP earnings per share of 68 cents, and it came in well above that at 72 cents share.
Revenue was $14.8 billion in the quarter, up 9 percent from $13.5 billion a year ago.“Q2 was an outstanding quarter with revenue and profits growing double digits over last year,” said Brian Krzanich, Intel CEO, in a statement. “We also launched new Intel Core, Xeon and memory products that reset the bar for performance leadership, and we’re gaining customer momentum in areas like AI and autonomous driving. With industry-leading products and strong first-half results, we’re on a clear path to another record year.”
The good results will likely give investors a sense of relief about the world’s largest chip maker, which faces competition from Qualcomm in mobile, artificial intelligence from Nvidia, and core PC microprocessors from Advanced Micro Devices, which launched its speedy Ryzen desktop processors and its Epyc server processors during the past quarter.
The competition from AMD will be closely watched, as AMD also reported a good quarter and will likely generate more revenue in the coming quarters…
The post Intel runs with the bulls thanks to PC, AI, and self-driving cars appeared first on FeedBox.