Intel Earnings Preview

Wall Street is looking for another strong quarter from Intel as the second quarter earnings season gets underway. Intel is scheduled to report their second quarter 2010 results after the market closes on Tuesday, July 13.


Last quarter, Intel reported earnings results that were $.05 above Wall Street’s consensus estimates. INTC shares jumped 4.7% following the better than expected earnings results.


The current Wall Street consensus estimates are for revenues of $10.25 billion and EPS of $.43. This would imply a 28% increase in revenues over last year’s $8.02 billion. Analysts also expect Intel to post a profit this year versus the ($.07) per share loss last year.  


In 2010, Intel’s shares have fallen 2%, but have outperformed the 3.4% decline in the Dow Jones index. Last year INTC shares gained 39% and easily outpaced the 19% gain in the Dow Jones index.


Intel stock is currently trading at 10x consensus 2011 EPS estimates. Intel shares look very cheap right now for a company that is expected to grow revenues by over 22% this year.


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