Blowout from Intel (INTC). The Nasdaq is trading up almost 3% on the news. Back with more later...
“Intel’s second-quarter results reflect improving conditions in the PC market segment with our strongest first- to second-quarter growth since 1988 and a clear expectation for a seasonally stronger second half,” said Paul Otellini, Intel president and CEO
Intel sees Q3 revs $8.1-8.9 bln vs $7.81 bln First Call consensus
Intel prelim $0.18, ex items vs $0.08 First Call consensus; revs $8 bln vs $7.28 bln First Call consensus
reports Q2 gross margin of 50.8% vs guidance of "mid-40s" and consensus of 46.4%
sees Q3 revs $8.1-8.9 bln vs $7.81 bln First Call consensus
sees Q3 gross margin of 51-55% vs 49.76% consensus