Intel posted higher earnings and revenue for its Q2
- Posted a profit of 55 cents a share (from a year-earlier 39 cents a share). Expectations centred on 52 cents a share
- Revenue increased 8% to $13.83 bn, versus last month’s estimate of $13.4 bn to $14 bn (consensus estimate was $13.69 bn). The year ago quarter had revenue of $12.8bn
- Gross margin widened to 64.5%, compared with 59.6% in Q1, and its boosted forecast of 64%
- Outlined plans to add $20 billion to its stock buyback plan, expects to repurchase about $4 billion in shares in the current quarter
A positive development for signs the US economy is on the (rocky) road to recovery
