Intel (INTC)issued a sales outlook that exceeded analysts' expectations, as the chipmaker's foundry business delivered better-than-anticipated revenue growth.
Intel said it expects third-quarter revenue of $12.6 billion to $13.6 billion, above the analyst consensus compiled by Visible Alpha. The chipmaker's estimate of breakeven adjusted earnings per share missed the 5 cents called for by Wall Street.
In the second-quarter, revenue was flat year-over-year at $12.86 billion, but above analysts' projections as Intel's foundry business grew 3% to $4.4 billion, topping estimates.
The chipmaker posted an adjusted net loss of $441 million, or 10 cents per share, compared to a profit of $83 million, or 2 cents per share a year earlier. Analysts tracked by Visible Alpha had expected adjusted net income of $76.3 million, or 2 cents per share.
CFO David Zinsner said the results reflect solid demand across our business and good execution on our priorities."
Intel said the company has completed the majority of its planned layoffs, representing roughly 15% of Intel's workforce. In a memo to employees released along with Intel's earnings, CEO Lip-Bu Tan said would leave Intel with roughly 75,000 employees at the end of 2025, Tan said.
Intel shares were little changed in after-hours trading following the results. The stock was up about 13% for 2025 through Thursday's close.
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