Intel's data center and AI revenue exceeded expectations, PC demand increased, and announced layoffs of about 15%, with sales guidance surpassing expectations.
After the U.S. stock market closed on Thursday, Intel released its second-quarter report, which showed data center and AI revenue of $3.94 billion, while analysts had expected $3.73 billion. The company expects third-quarter revenue to be between $12.6 billion and $13.6 billion, with analysts predicting $12.64 billion.
In the second quarter, the adjusted loss per share was $0.10, while analysts had expected earnings per share (EPS) of $0.011. The company maintained its full-year capital expenditure forecast at $18 billion, while analysts expected $18.13 billion.
It also maintained its full-year net capital expenditure forecast at approximately $8 billion to $11 billion. The company expects third-quarter revenue to be between $12.6 billion and $13.6 billion, with analysts predicting $12.64 billion. Additionally, the company plans to lay off about 15%.
After the earnings report was released, Intel's stock price, which fell nearly 3.7% on Thursday, quickly rebounded to rise in after-hours trading, with an increase of over 6% at one point, but soon retraced some of the gains, falling nearly 4% as of the time of publication.
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INTC

- Intel reported second-quarter earnings, with data center and AI revenue reaching $3.94 billion, surpassing analyst expectations of $3.73 billion.  
- The company announced a planned workforce reduction of approximately 15% and maintained its full-year capital expenditure forecast at $18 billion.  
- Following the earnings release, Intel's stock initially fell nearly 3.7% but later surged over 6% in after-hours trading before retracting to a nearly 4% decline.

Intel's second-quarter AI revenue greatly exceeded expectations, with after-hours trading fluctuating, dropping nearly 4% | Earnings Report Insights