2 Tech Equipment Stocks Giving Investors Hope After Earnings
Intel Corporation (NASDAQ:INTC) reported net income above Wall Street’s expectations for the third quarter. Net income for the semiconductor company rose to $3.47 billion (65 cents per share) vs. $2.96 billion (52 cents per share) in the same quarter a year earlier. This marks a rise of 17.4% from the year earlier quarter. Revenue rose 28.2% to $14.23 billion from the year earlier quarter. INTC reported adjusted net income of 69 cents per share. By that measure, the company beat the mean estimate of 61 cents per share. It beat the average revenue estimate of $13.9 billion.
“Intel delivered record-setting results again in Q3, surpassing $14 billion in revenue for the first time, driven largely by double-digit unit growth in notebook PCs,” said Paul Otellini, Intel president and CEO. “We also saw continued strength in the data center fueled by the ongoing growth of mobile and cloud computing.”
Competitors to Watch: Advanced Micro Devices, Inc. (NYSE:AMD), Texas Instruments Inc. (NYSE:TXN), Intl. Business Machines Corp. (NYSE:IBM), Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), NVIDIA Corporation (NASDAQ:NVDA), Oracle Corporation (NASDAQ:ORCL), Micron Technology, Inc. (NASDAQ:MU), ARM Holdings plc (NASDAQ:ARMH), and QUALCOMM, Inc. (NASDAQ:QCOM).
Juniper Networks (NYSE:JNPR) in the third quarter as profit dropped from a year earlier. Net income for the networking and communication devices company fell to $83.7 million (16 cents per share) vs. $134.5 million (25 cents per share) a year earlier. This is a decline of 37.8% from the year earlier quarter. Revenue rose 9.2% to $1.11 billion from the year earlier quarter. JNPR reported adjusted net income of 28 cents per share. By that measure, the company beat the mean estimate of 20 cents per share. Analysts were expecting revenue of $1.1 billion.
“Juniper executed well this quarter, and we are seeing strong customer interest in our new innovations in the data center, enterprise mobility and Converged Supercore,” said Kevin Johnson, chief executive officer at Juniper Networks. “While the macroeconomic environment dictates we remain agile, Juniper is on the right strategic course to deliver continued growth.”
Competitors to Watch: Cisco Systems, Inc. (NASDAQ:CSCO), Alcatel-Lucent (NYSE:ALU), Extreme Networks, Inc (NASDAQ:EXTR), Riverbed Technology, Inc. (NASDAQ:RVBD), ADTRAN, Inc. (NASDAQ:ADTN), Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), Nokia Corporation (NYSE:NOK), Hewlett-Packard Company (NYSE:HPQ), Tellabs, Inc. (NASDAQ:TLAB), and Intl. Business Machines Corp. (NYSE:IBM).