Intel beats Q2 revenue and profit estimates, lifts Q3 sales forecast to $15.8 billion–$16.8 billion
AI Market Summary
Intel's Q2 results materially beat consensus on revenue and EPS, with data center and client computing also ahead of estimates. Management guided Q3 revenue well above expectations, citing stronger AI-driven compute demand and improved manufacturing execution (higher yields, faster cycle times) alongside stepped-up capacity investment. The surprise upside helped offset recent weakness in semiconductors and supports a near-term re-rating of Intel-specific fundamentals versus the broader chip complex.
Impact level
● Medium
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NCSKINTC2USD/USDT-10.35%
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▲ Bullish
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Intel reported 2024 second-quarter revenue of $16.1 billion and earnings per share of $0.38, topping Wall Street expectations of $14.43 billion and $0.21. Data center revenue came in at $6.3 billion, also above forecasts. The company raised its third-quarter revenue outlook to $15.8 billion–$16.8 billion, versus a consensus estimate of $15.06 billion. Shares rose more than 7% after the results.
