Intel's turnaround under CEO Lip-Bu Tan gains steam with another strong quarter
📰 source: cnbc_topnews · 💼 business
intel's turnaround under ceo lip-bu tan gained steam as the chipmaker reported strong q2 results. revenue hit $16.1b, up 25% year over year, beating estimates by over $1.6b. eps swung to $0.42 from a loss, also topping forecasts. shares rose 4% in after-hours trading to around $104.
the data center and ai segment was the standout, with revenue climbing $2.3b yoy and operating income surging $1.8b. intel's foundry business also improved, with revenue up 31% and losses narrowing. management raised q3 guidance: revenue midpoint of $16.3b vs $15.1b consensus, and eps of $0.38 vs $0.27. one slight disappointment: no major foundry customers announced yet.
capital expenditure plans increased for 2026 and beyond, but the company sees strong demand. intel reiterated its 1 rating and $140 price target.
why it matters: intel's strong quarter and raised guidance confirm its ai-driven turnaround is accelerating, boosting investor confidence in the chipmaker's future.
source: cnbc_topnews
sentiment: +0.70 · impact: 0.70