Intel beats Q1 earnings and raises Q2 guidance on data center strength; Tesla beats top and bottom line
Key Points
- Intel beats Q1 earnings and raises Q2 guidance to $13.8-$14.8 billion, roughly 13% above Wall Street consensus, driven by data center strength.
- Intel stock surges 15% in after-hours trading on the stronger-than-expected outlook.
- Tesla beats both revenue and net income estimates with Q1 results of $22.24 billion and $1.45 billion respectively, though Musk signals need to reset expectations on timelines.
Summary
Intel Beats Q1, Raises Q2 Guidance on Data Center Strength; Tesla Beats Top and Bottom Line
Intel reported first-quarter earnings after the bell Thursday, beating analyst expectations on both revenue and net income while providing stronger-than-anticipated guidance for the second quarter.
For Q2, Intel expects revenue between $13.8 billion and $14.8 billion. Wall Street had anticipated $13 billion, making Intel's midpoint roughly 13% above consensus. The beat was driven by strength in data center sales, the company's most profitable segment.
Intel stock rose 15% in after-hours trading following the announcement.
Tesla also reported Q1 earnings, posting revenue of $22.24 billion against a $21.4 billion estimate and net income of $1.45 billion versus a $1.17 billion estimate, beating on both the top and bottom line.
Elon Musk struck a more cautious tone on Tesla's outlook, signaling in recent remarks that the company needs to reset expectations around timelines and focus on fundamentals rather than hype. The shift in messaging comes as Tesla maintains a market valuation around $1.1 trillion to $1.2 trillion—smaller than SpaceX if the latter reaches its reported $175 billion valuation target.
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