Intel (NASDAQ:INTC) stock rose more than 5% intra-day today after the company reported its Q2 results, which exceeded expectations. Despite a 15% year-over-year decline, Intel’s revenue of $12.9 billion surpassed the Street estimate of $12.09 billion. Additionally, the company’s EPS of $0.13 was better than the expected loss per share of $0.04.
CEO Pat Gelsinger expressed satisfaction with the Q2 results and highlighted the company’s focus on executing strategic priorities, including their foundry business and product roadmaps.
For Q3, Intel offered a positive outlook, expecting revenue in the range of $12.9 billion to $13.9 billion, with an adjusted EPS of $0.20, higher than the Street expectations of $0.13 per share.