Intel (INTC, Financial) reported second quarter earnings on July 20.
The technology company reported revenue of $13.5 billion, missing analysts’ average estimate by $40 million. Earnings per share for the quarter were 59 cents, down 5% from the comparable quarter. Earnings per share beat analysts’ average estimate of 53 cents.
Revenue growth at Intel slowed down in the second quarter with a comparable quarter gain of 3% versus a gain of 8% in the first quarter. Personal computer sales were lower for the quarter and a concern for the company’s outlook. In the client computing group sales were down 3% from the comparable quarter. For the quarter, unit volumes in the client computing group were down 15%. Manufacturing efficiency, however, helped Intel’s earnings in client computing. For the quarter, earnings in client computing were up 19%. Total business segment operating income for the quarter was down 54% from the comparable quarter.
In a CNBC report following the company’s earnings, Intel’s chief financial officer gave his perspective on the company’s quarter and some of its current business initiatives.
Disclosure: I do not own any shares of Intel.
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