Intel Beats Expectations, Up 6% After Hours On Revenue Of $13.2 Billion

Today after the market closed, Intel Corporation (INTC) released its second quarter earnings report. The company reported revenue of $13.2 billion and earnings per-share of $0.55.

The company’s revenue dropped five percent compared to the year-ago quarter, and its net income dropped by three percent over the same period. However, EPS was flat at 55 cents compared to the year-ago quarter.

The street’s consensus was that Intel would earn $0.50 per share on revenue of $13.04 billion. These expectations were in-line with the company’s prior guidance of $13.2 billion plus or minus $500 million.

Intel’s Data Center Group saw revenue of $3.9 billion, which is up five percent sequentially and up 10 percent year-over-year. The Internet of Things Group, a still relatively small division for the company, saw revenue of $559 million, which is up five percent sequentially and up four percent year-over-year.

The company also announced that Skylake, its 6th Generation Intel Processor, has been qualified for production and will deliver in the second half of 2015.

Intel shares traded flat today in regular trading, opening at $29.65 and closing at $29.70. Following its earnings beat shares of INTC are now up more than seven percent in after-hours trading.