Is Intel Back?
's (NASDAQ: INTC) comeback continued on Thursday as the legacy chip company posted better-than-expected results in its third quarter.
Revenue growth was weak again, up just 3% to $13.7 billion, but was still well ahead of the consensus at $13.14 billion, showing how low expectations have sunk the stock.
However, the real star of the earnings report was the dramatic improvement in the company's profitability. Adjusted gross margin jumped 22 percentage points to 40%, benefiting from a more favorable product mix, lower inventory reserves, and higher revenue. Higher operating margin rose 29 percentage points to 11.2% as Intel lowered research and development and general and administrative expenses from $4.8 billion to $3.9 billion. On the bottom line, adjusted earnings per share came in at $0.23 from a per-share loss of $0.46 in the quarter a year ago.
Source Fool.com
Intel Corp. Stock
Currently there is a rather negative sentiment for Intel Corp. with 14 Buy predictions and 18 Sell predictions..
This results in a negative potential of -36.53% based on a current price of 34.66 € and a target price of 22 € for the stock.
