Intel's data center business misses estimates, shares fall [Reuters]
Intel Corporation (INTC)
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Source: Reuters
Intel's data center business misses estimates, shares fall | Reuters Reuters Staff 2 Min Read (Reuters) - Intel Corp ( INTC.O ) missed analysts’ estimates for its closely watched data center business for the second quarter on Thursday, overshadowing strong results and sending its shares down 3 percent in extended trading. Revenue from its higher-margin data center business rose 26.9 percent to $5.55 billion in the quarter, while analysts were expecting revenue of $5.63 billion, according to financial and data analytics firm FactSet. The results come as rival Advanced Micro Devices Inc ( AMD.O ) gains ground with its new chips for servers. AMD beat estimates for quarterly profit and revenue on Wednesday, powered by its EPYC server processors. Intel forecast current-quarter revenue of $18.1 billion, plus or minus $500 million, and adjusted earnings of $1.15 per share, plus or minus 5 cents. Analysts on average were expecting revenue of $17.60 billion and a profit of $1.08 per share,
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