Intel Corporation (INTC) is scheduled to report second-quarter earnings on Thursday after the market closes, and analysts are looking at upbeat results. Data-centric business, which had significantly lifted the company’s first-quarter results, is once again the prime focus, as experts believe this unit’s contribution might increase in the second quarter.
The data-centric business accounted for nearly 50% of the top-line during the first quarter. A 16% increase in unit volumes contributed to a 24% jump in Data Center Group’s revenue, as the division saw rising adoption of Intel Xeon Scalable processors, especially for use in artificial intelligence workloads.
Related: Data-centric businesses lift Intel’s first quarter results
For the second quarter, Wall Street expects Intel to post 33.30% growth in earnings on a 5.90% increase in revenue, amidst rising competition from rivals including Nvidia (NVDA), Advanced Micro Devices (AMD), Qualcomm (QCOM) and Taiwan Semiconductor Manufacturing.
Experts believe Intel’s new products could be impacted by its manufacturing delays, which in turn could lower its competitive edge. The chipmaker, which is banking highly on the artificial intelligence, is hoping to outstrip its peers with its rising adoption in new smartphone features such as gesture control, fingerprint scanners, image scanners, and GPS.
Related: Chipmaker giant Intel’s CEO Brian Krzanich resigns
Meanwhile, the company has been searching for a new executive chief after the resignation of Brian Krzanich last month, and investors will be looking for any hints on this at the conference call. In addition, speculations are rife that an ex-employee, Diane Bryant, who resigned as COO from Alphabet’s (GOOGL) Google Cloud, might return to handle the executive chief position. Whoever it is will be tasked with fixing the manufacturing concerns the company is currently facing.
Intel shares were trading up 0.45% at $52.54 on the Nasdaq at 11:55 am ET. The stock has gained 51% in the past 52 weeks.
Related: Incoming Intel CEO has a plate full of problems to solve
Most Popular
AAPL Earnings: Apple’s Q2 sales and profit beat estimates; iPhone sales down 10%
Apple Inc. (NASDAQ: AAPL) on Thursday reported better-than-expected profit and revenue for the second quarter of 2024. There was a 10% decrease in iPhone sales. The gadget giant reported revenues
Shopify (SHOP) is all set to report Q1 2024 results. Here’s what to expect
Over the years, Shopify Inc. (NYSE: SHOP) has steadily expanded its footprint in the online retail market through constant innovation, like the recent launch of a mobile POS device for
eBay (EBAY): A look at how the ecommerce company fared in Q1 2024
Shares of eBay Inc. (NASDAQ: EBAY) were down over 2% on Thursday. The company reported its earnings results for the first quarter of 2024 a day ago, with revenue and
