12 Hrs
Source:
Sky News
Intel announces fastest quarterly growth in 15 years
Intel achieved its largest quarterly revenue growth since 2011, with revenues rising 25% in the second quarter to $16.1 billion, surpassing analysts' expectations of $14.4 billion, with adjusted earnings per share of 42 cents. This performance is attributed to strong demand for semiconductors used in artificial intelligence data centers. However, the company recorded a net loss of $11 billion due to accounting fluctuations and non-cash charges related to stock provisions, within the framework of the U.S. government's support for the chip industry. Intel projected better-than-expected results for the current quarter, with revenues ranging between $15.8 billion and $16.8 billion and adjusted earnings per share of 38 cents, leading to a stock increase of up to 12% following the announcement.
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