Intel’s Q2 results top analyst views, lifting stock

Intel Corp more than doubled its second-quarter profit as sales of its personal computer chips strengthened and the company made further inroads in promising new areas of technology.

The world’s largest chipmaker also brightened its outlook for the remainder of the year.

The report released Thursday drew a lukewarm reaction from investors as Intel’s stock edged up 13 cents to $35.10 in extended trading.

Intel earned $2.81 billion, or 58 cents per share during the threemonth period ended July 1. That compared to net income of $1.33 billion, or 27 cents per share, at the same time last year.

If not for one-time items unrelated to its ongoing business, Intel said it would have earned 72 cents per share. That figure exceeded the average estimate of 68 cents per share among analysts surveyed by Zacks Investment Research.

Intel’s revenue rose 9 percent from last year to $14.76 billion, above the average analyst estimate of $14.41 billion, according to Zacks.

Last year’s revenue included a security division that Intel has since spun off into a separate company. If Intel hadn’t owned that division last year, revenue for the latest period would have been up by 14 percent, according to the company.

Sales in Intel’s division that includes personal computer chips posted revenue of $8.2 billion, up 12 percent from last year’s secondquarter. (AP)