Bloomberg Talks

Intel gave a strong sales forecast for the current period, signaling that the struggling chipmaker is finally beginning to benefit from the giant build-out of artificial intelligence infrastructure.

Revenue will be $13.8 billion to $14.8 billion in the quarter ending in June, the company said Thursday in a statement. Analysts, on average, estimated $13 billion, according to data compiled by Bloomberg. Earnings, excluding some items, will be about 20 cents a share, compared with a Wall Street prediction of 9 cents.

The upbeat outlook suggests that Chief Executive Officer Lip-Bu Tan is making progress on a challenging comeback plan. After lining up major investments in Intel last year — helping to strengthen the company’s balance sheet — Thursday’s results suggest he’s now delivering on a promise to improve its operations.

Intel shares rose 14% in extended trading. The stock had gained 81% this year before the results were released, closing at $66.78.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Bloomberg Intelligence Senior Semiconductor Analyst Kunjan Sobhani
Bloomberg Tech co-host Ed Ludlow
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Blackstone Inc. President Jon Gray said the build-out of artificial-intelligence infrastructure is the single-biggest driver for the company right now. He speaks to Dani Burger.
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"We are a growth company," ServiceNow Chair and CEO Bill McDermott says while discussing the company's first-quarter earnings on "Bloomberg Open Interest."
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Moelis Vice Chairman Eric Cantor joins "Bloomberg Surveillance TV" to discuss the critical role of energy independence and domestic production in shielding the US economy from global shocks. With crude oil prices climbing back above triple digits and uncertainty surrounding Iran nuclear talks, Cantor emphasizes that while the current market environment is challenging, financial markets remain forward-looking and optimistic about future stability.
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Roche CEO Thomas Schinecker joins Bloomberg's "The Opening Trade" to discuss his company's earnings and the timeline for the potential launch for Roche's blockbuster breast cancer pill that may become one of the company's biggest sellers by the end of the year.
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