Intel dips after posting 23% revenue growth
Demand for Intel's products was relatively strong in the quarter, with people needing devices to work or learn from home.Christoph Dernbach | picture alliance | Getty ImagesHere are the key numbers:Analysts polled by Refinitiv had expected $1.28 in earnings per share on an adjusted basis and $18.70 billion in revenue. Comparing the results against analysts' estimates is not straightforward, though, given that the coronavirus impacted economies around the world during the quarter.
Revenue rose 23% on an annualized basis in the quarter that ended on March 28, coming in above the company's $19.00 billion forecast, according to aWith respect to guidance, Intel said it expects $1.10 in adjusted earnings per share and $18.50 billion in revenue in the second quarter. Analysts polled by Refinitiv had expected adjusted second-quarter earnings of $1.19 per share on $17.97 billion in revenue.Intel's Client Computing Group, which includes PC chips, produced $9.
The Data Center Group, including chips for cloud providers and enterprise-focused server makers, posted $6.99 billion in revenue, growing 42.7% and greater than the FactSet consensus of $6.32 billion.
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