Intel Rises Premarket After Q2 Revenue Surges 25%, Guides Above Consensus
INTC has more than doubled off its 52-week low of $18.965.
Summary
Intel shares are moving higher in premarket trading following its Q2 earnings report. Revenue jumped 25% YoY to $16.1B, and Q3 guidance came in above consensus. The results were released after Wednesday's close, so this is the market's first chance to react. The strong top-line growth and upbeat outlook overshadow a $12.5B non-cash charge tied to the government's equity stake, which pushed GAAP net income to a loss. The premarket gain suggests investors are focusing on the underlying operational strength. Watch for sustained momentum into the regular session and any analyst revisions throughout the day.
At the time of this announcement, INTC was trading at $102.50 on NASDAQ in the Technology sector, with a market capitalization of approximately $503.8B. The 52-week trading range was $18.97 to $142.35. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: CNBC TV18.