Intel profit beats on higher demand for data center chips

Intel profit beats on higher demand for data center chips

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(Reuters) – Intel Corp (INTC.O) topped Wall Road estimates for quarterly revenue and income on Thursday, as a booming cloud computing market drove increased demand for chips utilized in information facilities.

The Intel emblem is proven at E3, the world’s largest online game trade conference in Los Angeles, California, U.S. June 12, 2018. REUTERS/Mike Blake

Internet revenue rose to $5.01 billion, or $1.05 per share, within the second quarter ended June 30 from $2.81 billion, or 58 cents per share, a yr earlier. bit.ly/2mLLApb

Internet income rose 14.9 p.c to $16.96 billion.

Excluding gadgets, the corporate earned $1.04 per share.

Analysts on common have been anticipating adjusted earnings of 96 cents per share and income of 16.77 billion, in accordance with Thomson Reuters I/B/E/S.

The corporate is within the midst of a CEO search following the ouster of Brian Krzanich final month after an investigation discovered he had a consensual relationship with an worker in breach of firm coverage.

Reporting by Sonam Rai in Bengaluru and Stephen Nellis in San Francisco; Modifying by Anil D’Silva

Our Requirements:The Thomson Reuters Belief Rules.

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