Shares of Intel Corporation INTC, fell slightly on Tuesday, ahead of the announcement of the company’s second quarter financial results due after the market closes on Wednesday. According to Estimize, earnings are expected to decline between 5 and 10 percent year-over-year.
In the second quarter of 2014, earnings came in at $0.55 per share, and revenue at $13.831 billion. For the current quarter, the Street is modeling consensus earnings of $0.50 per share on sales of $13.044 billion, while the crowd is projecting earnings of $0.52 per share on revenue of $13.262 billion. Management did not guide earnings, but did say it expects revenues of $13.2 billion.
It should be noted from the chart above that Intel has tended to surpass the Street’s consensus over the past couple of years.
Related Link: 'A Hard Rain's A Gonna Fall' Come Intel And AMD Earnings, Bernstein Warns
'A Hard Rain's A Gonna Fall'
In a recent report, Bernstein analysts Stacy A. Rasgon, Shirley Hu and Yang Ren also previewed Intel’s earnings. They model second quarter earnings of $0.50 per share on revenue of $13 billion, and gross margins of 62 percent, in line with guidance and consensus estimates.
They note that Intel is going through an “interesting” quarter, to say the least, and estimate PCs have weakened “beyond company expectations as of 3 months ago.”
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