Intel Corporation (INTC) Releases Earnings Results, Beats Expectations By $0.06 EPS

Intel Corporation (INTC) reported quarterly earnings results on Wednesday, Jul-20-2016. The company said it had a profit of $0.59 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.53. The company posted revenue of $13533.00 million in the period, compared to analysts expectations of $13549.95 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on Intel Corporation. Company shares were Reiterated by RBC Capital Mkts on Jul 18, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 36 from a previous price target of $34 .Company shares were Reiterated by Canaccord Genuity on Jul 18, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $38 .Company shares were Reiterated by Cowen on Jul 11, 2016 to “Market Perform”, Firm has raised the Price Target to $ 36 from a previous price target of $32 .

Intel Corporation closed down -0.02 points or -0.06% at $35.05 with 1,93,47,177 shares getting traded on Monday. Post opening the session at $35.18, the shares hit an intraday low of $34.95 and an intraday high of $35.2 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Jul 12, 2016, Intel Corporation announced a cash dividend of $0.2600. The company’s management has announced Aug 4, 2016 as the ex-dividend date and fixed the record date on Aug 7, 2016. The payable date has been fixed on Sep 1, 2016.

In a different news, on Jul 6, 2016, Brian M Krzanich (CEO) sold 71,413 shares at $32.73 per share price. According to the SEC, on Jun 2, 2016, Venkata S M Renduchintala (EVP, Pres Client & IOT & SAG) sold 17,732 shares at $31.43 per share price. On May 25, 2016, Gregory R Pearson (Sr. VP, GM, Sales & Mktg Grp) sold 42,684 shares at $30.34 per share price, according to the Form-4 filing with the securities and exchange commission.

Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company sells these platforms to original equipment manufacturers (OEMs) original design manufacturers (ODMs) and industrial and communications equipment manufacturers in the computing and communications industries. The Company’s platforms are used to deliver a range of computing experiences in notebooks 2 in 1 systems desktops servers tablets smartphones and the Internet of Things. It also develops and sells software and services focused on security and technology integration. The Company’s operating segments include the PC Client Group (PCCG) the Data Center Group (DCG) the Internet of Things Group (IOTG) the Mobile and Communications Group (MCG) the software and services (SSG) and all other. SSG segment includes McAfee and software and services group. All Other segment includes Non-Volatile Memory Solutions Group Netbook Group and New Devices Group.

Intel Corporation

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