Intel Beats Wall Street Estimates, Drops Annual Sales Forecast
Intel (INTC) posted second quarter results that topped Wall Street forecasts but also dropped its full year forecasts.
Intel Corp (INTC) released earnings after the close that pushed the stock up as high as 8% in after-hours trading. The chip maker earned $0.55 a share which is right on target with what they earned in the second quarter of 2014. According to Thomson Reuters, Intel was expected to earn $0.50 per share, meaning a $0.05 beat for the chip maker. Sales were expected to come in at 1$3.8 billion but were reported at $13.2 billion. Gross margins were expected to be 61.84% and came above estimates which were at 62.5%. TheStreet's Whalen MacHale reports from New York.
