The market is expecting
Intel will report earnings after the close. The chip manufacturer has been under pressure as AMD and Nvidia “chip” away at their business. They have also been besieged with manufacturing problems. The new CEO Gelsinger is looking to turn the manufacturer around via a large infrastructure investment, but that takes time and the market is not particularly patient.
The expectations are for:
- Revenues of $17.81 billion. That is down from $19.73 billion a year ago. Intel guided toward revenues of $18.9 billion or $17.8 billion removing its divested memory business. Analyst expect revenues from client computing to come in at $10.03 billion, nonvolatile memory solutions at $690.8 million, Internet of things revenue of $901.5 million and Mobileeye revenue of $361.4 million
- earnings-per-share are estimated at $1.07. That is down from $1.23 a year ago. Intel guided at $1.05.
- Gross margin 56.9%
- The current price is at $55.94
EPS guidance is expected for the 3Q at $1.08. FY 2021 is expected at $4.62.
Revenue guidance is expected at $18.08 billion. FY 2021 expected at $72.8 billion. FY 2022 is expected at $72.8B.
This article was originally published by Forexlive.com. Read the original article here.