Jul 31, 2023
Intel’s stock surges after better-than-expected Q2 results
Posted by Kelvin Dafiaghor in categories: computing, finance
Despite that drop, the company did better than expected. Wall Street had forecast it would lose 3 cents a share on an adjusted basis on sales of $12.1 billion, according to Yahoo Finance.
“Our overall position is strengthening,” CEO Pat Gelsinger told analysts, adding later, “simply put, it was a very good quarter.”
Still, he and Chief Financial Officer Dave Zinsner noted that the selling environment was improving only slowly, particularly for server chips.