Intel Reports Q2 Earnings Beat

Intel Corporation INTC shares are trading lower on Thursday despite the company reporting better-than-expected second-quarter EPS and earnings results.

The company reported quarterly earnings of $1.23 per share, which beat the analyst consensus estimate of $1.10 by 11.82%. This is a 16.04% increase over earnings of $1.06 per share from the same period last year.

The company reported quarterly sales of $19.70 billion, which beat the analyst consensus estimate of $18.55 billion by 6.20%. This is a 19.36% increase over sales of $16.50 billion the same period last year.

Intel sees fiscal year 2020 adjusted EPS $4.85 versus the $4.81 estimate, sales $75 billion versus the $73.86 billion estimate.

Intel shares were trading down 8.4% to $55.28 at the time of publication in after-hours trading. The stock has a 52-week high of $69.29 and a 52-week low of $43.63.