Intel Reports Fastest Revenue Growth in 15 Years, Shares Surge
Intel posted its strongest revenue growth in 15 years, driven by its data center and AI business, which grew 59% year-over-year. The company's shares rose 11% in after-hours trading after reporting adjusted earnings of $0.42 per share, exceeding Wall Street expectations. Intel's revenue reached $16.1 billion, a 25% increase from the previous year.
Intel has experienced its fastest revenue growth in 15 years, as reported in the company's second-quarter results . The growth is attributed to the strong performance of its data center and AI (DCAI) business, which saw a 59% year-over-year increase . The company's shares surged in after-hours trading, reflecting the positive earnings .
The $16.1 billion in revenue is a 25% increase from the previous year's result . Intel's adjusted earnings per share (EPS) of $0.42 surpassed the FactSet estimate of $0.22 and $0.21 as estimated by LSEG . This significant improvement in earnings led to a 11% jump in the company's stock price in extended trading . Intel's performance is particularly notable given the recent 28% drop in the stock price in July .
The strong results are a testament to Intel's efforts to capitalize on the artificial intelligence (AI) infrastructure boom . The company's focus on developing AI technologies has yielded positive outcomes, driving revenue growth and investor confidence. While Intel's guidance for the third quarter is more conservative, the company's second-quarter performance offers a reassuring tone for investors.
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