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Oracle Profit Jumps, Intel Lifts Revenue Estimate

Author: Mukesh Buch
Last Update: 12:37 PM ET September 16 2016

12:00 PM New York Intel lifted revenues forecast in the third-quarter of about $15.6 billion. Oracle first-quarter net jumped 5% to $1.8 billion and revenues increased 2% to $8.60 billion.

Tollbooth Index slumped 64.28 or 0.6% to 10,917.64.

Earnings Review

Intel Corporation (INTC), the computer processor maker lifted revenues forecast for the third-quarter to about $15.6 billion, plus or minus $300 million, compared to the previous range of $14.9 billion, plus or minus $500 million.

Intel estimated gross margin range at 62 percent, plus or minus a couple of points, and spending is expected to be approximately $5.2 billion, $100 million higher than the prior expectation.

The chip maker is scheduled to release its third-quarter result on October 18.

Oracle Corporation (ORCL), the enterprise information technology provider reported total revenues in the first-quarter ending in August increased 2% from a year ago to $8.60 billion.

Net income in the quarter jumped 5% to $1.83 billion or 43 cents per diluted share compared to the $1.75 million or 40 cents per share from the same quarter last year.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc