What To Expect From Intel’s (INTC) Q3 Earnings

Computer processor maker Intel (NASDAQ:INTC) will be reporting earnings this Thursday afternoon. Here’s what investors should know.

Intel beat analysts’ revenue expectations by 7.8% last quarter, reporting revenues of $12.86 billion, flat year on year. It was a mixed quarter for the company, with a significant improvement in its inventory levels but a significant miss of analysts’ adjusted operating income estimates.

Is Intel a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Intel’s revenue to be flat year on year at $13.17 billion, improving from the 6.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 per share.Intel Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Intel has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Intel’s peers in the semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Penguin Solutions delivered year-on-year revenue growth of 8.6%, missing analysts’ expectations by 1.3%, and Micron reported revenues up 46%, topping estimates by 1.8%. Penguin Solutions traded down 15.9% following the results while Micron was also down 2.9%.

Read our full analysis of Penguin Solutions’s results here and Micron’s results here.

There has been positive sentiment among investors in the semiconductors segment, with share prices up 3.8% on average over the last month. Intel is up 31.6% during the same time and is heading into earnings with an average analyst price target of $28.09 (compared to the current share price of $37.85).

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