Intel (INTC) reported its Q2 earnings after the bell on Thursday that beat analysts’ expectations on the top and bottom line. Here are the important numbers from the report:
Revenue: $16.5 billion versus $15.67 billion expected
Adjusted earnings per share: $1.06 versus $0.89 expected
The is the first quarterly report since CEO Bob Swan slashed Intel's quarterly and full-year guidance in Q1.
The report also comes after Swan revealed that Intel is offloading its mobile modem division. In an interview with Yahoo Finance Editor-in-Chief Andy Serwer, Swan explained that the company didn't see a way to profitability for the business.
Intel confirmed that it’s selling the division to Apple (AAPL) for as much as $1 billion. The move will bring modem development in-house at Apple, something the company has been focusing more on for its smartphone division.
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