Jan 25, 2018

Intel easily tops earnings estimates despite declining PC market

Intel CEO Brian Krzanich (Photo: Intel)

Intel reported quarterly earnings on Thursday that handily beat estimates and also said it would boost its dividend to shareholders. Growth in chips for data centers helped offset its declining core business powering personal computers.

Why it matters: In addition to a long-slumping PC business, Intel is also dealing with the impact from a massive chip vulnerability.

Intel reported sales of $17.1 billion and per-share earnings of $1.08. excluding certain items including a big tax-related charge. The company was expected to post earnings of around 86 cents per share, on revenue of about $16.3 billion, according to Zacks.

What they're saying: "Compared to the expectations we set, our revenue was stronger, our operating margins were higher, and our spending was lower," Intel CFO Bob Swan said in a statement. “Intel's PC-centric business continued to execute well in a declining market while the growth of our data-centric businesses shows Intel's transformation is on track."

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The rematch of the century

Illustration: Eniola Odetunde/Axios

The weekend's biggest sporting event is Wilder-Fury II, which despite its name is not an action movie sequel starring Jean-Claude Van Damme but, rather, a boxing match starring arguably the two best heavyweights in the world.

The backdrop: In their first meeting in December 2018, Deontay Wilder and Tyson Fury put on a memorable show at Staples Center, with Fury surviving a brutal right hand in the 12th round to earn a split-decision draw.

Go deeperArrow33 mins ago - Sports

Pro-Trump warrior takes the helm of U.S. intelligence

Richard Grenell in Berlin. Photo: Sean Gallup/Getty Images

By picking Ambassador Richard Grenell to be acting director of national intelligence, President Trump has slotted a pro-Trump warrior into the ultimate apolitical role.

What they're saying: James Clapper, the longest-serving DNI (2010-2017), tells Axios it's "very worrisome installing a partisan with no real intelligence experience in this position."

Coronavirus kills 2 Diamond Princess passengers as Israel confirms first case

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship — as Israel confirmed its first case among evacuees from the ship.

The big picture: COVID-19 has now killed more than 2,200 people and infected over 76,000 others, mostly in mainland China, where the National Health Commission announced 118 new deaths since Thursday.

Go deeperArrowUpdated 1 hour ago - Health