Intel Slips on Q2 Earnings Results

Shares of Intel INTC are trading lower in the after-hours following the release of the company's Q2 earnings results. Currently, shares are lower by 0.39%, trading at $22.90; they ended the regular session lower by 0.30%, at $22.99. Intel reported Q2 EPS of $0.59 on revenues of $13.1 billion; the Street was looking for $0.51 per share on revenues of $12.82 billion. Revenues increased 21.7% year over year. "We achieved a significant new milestone in the second quarter, surpassing $13.0 billion in revenue for the first time," said Paul Otellini, Intel president and CEO. "Strong corporate demand for our most advanced technology, the surge of mobile devices and Internet traffic fueling data center growth, and the rapid rise of computing in emerging markets drove record results. Intel's 23 percent revenue growth in the first half and our increasing confidence in the second half of 2011 position us to grow annual revenue in the mid-20 percent range." Intel Corporation is a semiconductor chip maker company. The company develops advanced integrated digital technology products, primarily integrated circuits, for industries, such as computing and communications.