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Intel raises Reuters full-year earnings forecast

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(Reuters)-Chip maker Intel Corp (NASDAQ :) focused on the dual strategy of raising its annual earnings forecast and increasing in-house production on Thursday and outsourcing to catch up with its rivals.

Intel, one of the few remaining companies in the processor chip industry to design and manufacture its own chips, has more supply chain issues than rivals like Advanced Micro Devices (NASDAQ :), which outsources manufacturing. I was able to survive.

The shift of pandemics to cloud and artificial intelligence-based operations in business working models is also increasing the demand for processors used in data centers and PCs.

“All digitization continues to accelerate,” said Pat Gelsinger, Intel’s CEO.

According to Refinitiv IBES data, Intel now expects annual adjusted revenues to be $ 73.5 billion, compared to previous forecasts of $ 72.5 billion and analysts’ forecasts of $ 7.28 billion. ..

Revenue from the company’s profitable data center business fell 9% to $ 6.5 billion in the second quarter, while personal computing revenue increased 6%, both quoted by FactSet. It exceeded.

Intel expects adjusted third-quarter revenue to be approximately $ 18.2 billion, above an estimated $ 18.09 billion.

Adjusted second-quarter revenue was $ 1.28 per share, compared to an estimated $ 1.06.

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Intel raises Reuters full-year earnings forecast

Source link Intel raises Reuters full-year earnings forecast

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