Intel Non-GAAP EPS of $0.29 misses by $0.41, revenue of $15.3B misses by $2.63B
Intel press release (NASDAQ:INTC): Q2 Non-GAAP EPS of $0.29  misses by $0.41.
Revenue of $15.3B (-17.3% Y/Y)  misses by $2.63B.
Shares -8.3%.
Revising full-year revenue guidance to $65B to $68B vs. consensus of $74.35B; reiterating full-year adjusted free cash flow guidance.
For Q3, revenue is expected to be in the range of $15B to $16B vs. consensus of $18.67B and EPS of $0.35 vs. consensus of $0.66.
"We are taking necessary actions to manage through the current environment, including accelerating the deployment of our smart capital strategy, while reiterating our prior full-year adjusted free cash flow guidance and returning gross margins to our target range by the fourth quarter," said David Zinsner, Intel CFO. "We remain fully committed to our business strategy, the long-term financial model communicated at our investor meeting and a strong and growing dividend."