====Intel (INTC) reported earnings on Thur 27 Jul 23 (a/h)

 

Intel beats by $0.17, beats on revs, gross margin of 39.8% compared to guidance of 37.5%; guides Q3 EPS above consensus, revs in-line

• Reports Q2 (Jun) earnings of $0.13 per share, excluding non-recurring items, $0.17 better than the FactSet Consensus of ($0.04); revenues fell 15.7% year/year to $12.9 bln vs the $12.12 bln FactSet Consensus.
• Gross margin of 39.8% vs. guidance of 37.5%.
• Client Computing Group (CCG) revenue down 12% to $6.8 bln; lower on overall TAM contraction and OEM inventory reductions.
• Data Center & AI Group (DCAI) revenue down 15% to $4.0 bln; lower on CPU TAM contraction and competitive pressures.
• Network And Edge Group (NEX) revenue down 38% to $1.4 bln.
• Co issues guidance for Q3, sees EPS of $0.20 vs. $0.16 FactSet Consensus; sees Q3 revs of $12.9-$13.9 bln vs. $13.22 bln FactSet Consensus. Sees gross margin of 43.0%. Says is expecting a modest 2H23 recovery.