Intel (NASDAQ:INTC) reported its latest quarterly earnings results late in the day Thursday, which were well ahead of Wall Street’s expectations but shares still declined after hours.
The Silicon Valley tech giant brought in second-quarter adjusted earnings of $1.04 per share, ahead of the 96 cents per share that analysts were calling for in the Wall Street consensus estimate to reach its midpoint of fiscal 2018 in style. The outlook was compiled through a Thomson Reuters survey.
The company’s Client Computing Group is its most profitable segment, raking in revenue of $8.73 billion, ahead of the FactSet projection of $8.48 billion. Intel’s Data Center Group is its second-largest segment and it tallied up $5.55 billion in sales, missing the $5.64 billion guidance.
For its third quarter of fiscal 2018, the tech giant sees adjusted earnings at $1.15 per share in its midpoint, better than the $1.08 per share that analysts polled by Thomson Reuters are forecasting. Revenue is slated to be around $18.1 billion for the quarter, better than the $17.60 billion that Wall Street was calling for, per Thomson Reuters.
INTC stock was down about 0.5% during regular trading hours Thursday as the company geared up to release its latest quarterly earnings results. The company’s shares fell about 4.5% after the bell.
