Intel and IBM Report Earnings

Intel Corp.

Intel Corp. (INTC) reported Q2 results today in-line with their earlier estimates for the quarter. The company reported revenue of $12.8 Billion on a forecast between $12.4B and $13.4B and were on-forecast with gross margins of 58%. Earnings-per-share came in at 39 cents. Analysts had expected Intel to report earnings per share of 40 cents and revenue of $12.9 billion. Intel also lowered their outlook for the remainder of 2013 to “flat” from single-digit growth.

Intel Corp. (INTC).

Intel Corp. (INTC) is up +17.12% year-to-date.

International Business Machines (IBM)

International Business Machines (IBM) reported that its second-quarter net income fell 17 percent as revenue slipped and it absorbed the cost of layoffs. Net income was $3.23 billion, or $2.91 per share, down from $3.88 billion, or $3.34 per share, a year earlier. Excluding a $1 billion charge related to layoffs, IBM Corp.’s adjusted earnings were $3.91 per share which beat the $3.77 per share expected. Revenue fell 3 percent to $24.92 billion which was below the $25.35 billion expected by analysts. IBM shares were up in after-hours trading.

International Business Machines (IBM).

International Business Machines (IBM) is up +1.57% year-to-date.

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