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Intel Corp.’s stock lost almost 2% in late trading today as investors digested an eventful second-quarter earnings report and analyst call today.
The American chip giant actually performed well, reporting revenue and profit ahead of both its own and Wall Street’s forecast thanks to strong sales of chips for personal computers. It also raised its end-of-year guidance.
The company reported a profit before certain costs such as stock compensation of $1.28 per share on revenue of $18.5 billion, up 2% from a year ago. That wasn’t massive growth, but it did come in well ahead of Wall Street’s forecast of $1.06 per share in profit and $17.8 billion in revenue.
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