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Intel Corporation 2Q 17, First Solar, Inc. 2Q 17 Earnings Reported

Intel 2Q 17 earnings and First Solar 2Q 17 earnings were released after closing bell tonight. Intel reported non-GAAP earnings of 72 cents per share on $14.8 billion in revenue, while analysts had expected non-GAAP earnings of 68 cents per share on $14.4 billion in revenue. In last year’s second quarter, the chip maker reported 59 cents per share on $13.5 billion in sales.

First Solar posted non-GAAP earnings of 64 cents per share on $623 million in net sales, compared to the consensus estimates of 1 cent per share in losses and $556.4 million in revenue. Management had guided for a breakeven quarter, so clearly Wall Street isn’t expecting much, although Deutsche Bank predicted a huge beat.

Intel 2Q 17 earnings

Intel 2Q 17 earnings
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On a GAAP basis, Intel 2Q 17 earnings rose to 58 cents per share from 27 cents per share last year. Revenue from the chip maker’s Client Computing Group rose 12% year over year to $8.2 billion, while its Data Center Group increased 9% to $4.4 billion. Internet of Things Group revenue jumped 26% to $720 million, while Non-Volatile Memory Solutions Group revenue increased 58% to $874 million. Programmable Solutions Group revenue fell 5% to $440 million.

Intel also boosted its full-year guidance for earnings per share and revenue. The chip maker expects revenue of about $15.7 billion for the third quarter, plus or minus $500 million. It projects GAAP earnings of about 72 cents per share, plus or minus 5 cents, and non-GAAP earnings of 80 cents per share, also plus or minus 5 cents.

For the full year, Intel’s new guidance is $61.3 billion in sales, plus or minus $500 million. It also expects GAAP earnings of about $2.66 per share, plus or minus 5 cents a share, and non-GAAP earnings of about $3 per share, also plus or minus 5 cents per share.

After the Intel 2Q 17 earnings were released, the company’s stock jumped by as much as 1.34% to $35.44 in after-hours trades.

First Solar 2Q 17 earnings

First Solar 2Q 17 earnings

On a GAAP basis, First Solar 2Q 17 earnings were 50 cents per share, compared to the 11 cents per share in losses the company reported in the year-ago quarter. The company had 1.5 gigawatts’ worth of bookings during the quarter.

First Solar also boosted its outlook for the full year, citing improved visibility of systems projects, a tax benefit in the second quarter and operational improvements.

Its previous full-year sales guidance was $2.85 billion to $2.95 billion, but the company now projects $3 billion to $3.1 billion in revenue. It expects a gross margin of 17% to 18%, a huge improvement to the previous forecast of 12.5% to 14.5%. First Solar now expects GAAP earnings of $1.55 to $2.20 per share, up from the previous range of losses of 30 cents per share to earnings of 40 cents per share. On a non-GAAP basis, the company expects $2 to $2.50 per share, compared to the previous outlook of 25 cents to 75 cents per share.

After First Solar 2Q 17 earnings were released, the company’s stock surged in after-hours trades, climbing by as much as 12.14% to $50.10.