By Yasin Ebrahim
Investing.com - Intel (NASDAQ:INTC) reported Thursday second quarter results that beat analysts' forecasts driven by growing chip demand.
Intel announced earnings per share of $1.28 on revenue of $18.53 billion. Analysts polled by Investing.com anticipated EPS of $1.07 on revenue of $17.8 billion.
Client Computing Group, which mainly consists of the company's PC processor and related component business, reported a 6% increase in revenue to $10.1 billion.
Data center business revenue fell 9% to $6.5 billion.
For the third quarter, Intel expects revenue of $18.2 billion with adjusted earnings of $1.10. Analysts predicted a guidance of $18.27 billion in revenue and $1.08 profit.
For the full year, the company raised its forecast on revenue to $73.5 billion with adjusted EPS of $4.80 and 56.5% gross margin. The company previously forecast EPS of $4.60 on revenue of $72.5 billion.
"The digitization of everything continues to accelerate, creating a vast growth opportunity for us and our customers across core and emerging business areas," the company said.
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