Intel Q2 revenue beats with 24.8% growth; Trump announces new tariffs on 60 trading partners

Getty Images

Summary

• Intel (INTC) delivered its strongest revenue growth in over 15 years, with Q2 revenue up 24.8% to $16.1B and EPS of $0.42.
• Oracle (ORCL) secured a 10-year, nearly $7B contract with the U.S. Department of War for enterprise software services, boosting premarket shares.

Download this episode on Apple Podcasts / Spotify or listen below:

• Intel's (INTC) biggest growth spurt in 15 years. (00:13)
• Trump's new tariffs are about to hit. (01:27)
• Oracle (ORCL) lands a big one. (02:22)

This is an abridged transcript.

Intel (INTC) Surges on Strong Q2 Results

Intel (INTC) is up 4% in early trading after reporting second-quarter results and guidance that exceeded Wall Street's expectations.

Non-GAAP EPS came in at $0.42, beating estimates by $0.20. Revenue reached $16.1 billion, up 24.8% year over year and $1.65 billion above consensus.

"AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network," said Lip-Bu Tan, Intel CEO. "Our Q2 results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus."

Looking ahead, Intel expects third-quarter revenue between $15.8B and $16.8B, well above the $15.06B analysts anticipated. The company also forecasts adjusted earnings of $0.38 per share, compared to the consensus estimate of $0.27 per share.

Trump Administration Imposes New Tariffs on 60 Trading Partners

The Trump administration is set to impose new 10% and 12.5% tariffs on 60 trading partners, including the European Union, effective today.

The penalties, imposed over alleged weak enforcement of forced labor bans, take effect just as a temporary 10% global tariff expires.

The new tariffs, announced Thursday in a Federal Register notice, will cover 99.4% of U.S. imports but include numerous product exemptions, such as oil and gas, fertilizer, and certain food items.

The duties are imposed under Section 301 of the Trade Act of 1974, allowing the administration to maintain a tariff floor on virtually all U.S. imports despite a Supreme Court setback.

This is the top story in the Wall Street Breakfast newsletter.

Oracle (ORCL) Lands Major Military Contract

Oracle (ORCL) has secured a 10-year contract with the U.S. Department of War to provide software services.

Shares of Oracle are up 2.7% in premarket trading.

The contract includes the use of Oracle software in on-premise data centers for all branches of the U.S. military, the Coast Guard, and the U.S. intelligence community. The 10-year Indefinite Delivery/Indefinite Quantity contract has a base value of $3.31B for the first five years and reaches nearly $7B if the five option years are exercised.

The contract falls under the Department of War's Enterprise Software Initiative.

What's Trending on Seeking Alpha

• Tesla's earnings slump leaves short sellers with over $9B in paper gains this year
• Stripe in talks to acquire AI startup OpenRouter for ~$10B - report
• Sandisk's price target cut at Susquehanna

Market Snapshot

Stock index futures are in the green before the opening bell.

• Crude oil is down 3.2% at $89.
• Brent crude is down 3.7% at $97.
• The FTSE 100 is up 0.5%.
• The DAX is up 0.8%.