Horacio Villalobos | Corbis News | .
Intel shares rose slightly after CEO Pat Gelsinger’s second earnings relationship to the rudder of the American chip giant.
Intel reported revenue and earnings for share which beat both the company’s forecasts and Wall Street’s expectations, attributing the beat to strength in his business unit that produces chips for PC. Intel claimed that PC unit sales were up 33% over last year.
here how Intel did against Refinitiv’s consensus estimates for the quarter end in June:
Earnings for share (EPS): $ 1.28 (adjusted) vs. $ 1.06 expected, up 12% year-over-year
Income: $ 18.5 billion (adjusted) vs $ 17.8 billion expected, up 12% year-over-year
Gelsinger has announced plans for Intel for transform himself producing chips for other companies, in Dependence on using contract chip factories, called foundries, for also to do a little bit’ of own processors.
But the recovery plan proposed by Gelsinger has already run in checkpoints. In June, Intel delayed the release of its next-generation next-generation server processor in early 2022, which suggests it still has trouble maintaining it up with competitors. Also in June, the Intel server boss, Navin Shenoy, left the company after 26 years as part of a renovation that also created new business unit.
Intel could take in consideration of acquisitions to accelerate Gelsinger’s plan.
The company is in interviews in initial phase with The sovereign wealth fund of Abu Dhabi Mubadala a buy GlobalFoundries, one of America’s leading chip foundries, confirmed CNBC, although no deal is secured. Intel has also considered to take over SiFive, according to Reuters, a company that develops silicon based on the open source RISC-V technology, which is an alternative to ARM education set that is currently dominant in mobile chips.
CNBC’s Alex Sherman contributed to this report.
Read More About Business News around the World here!