"Intel ( Nasdaq: INTC) reported Q3 earnings and the stock is up 8% after-hours. While most articles will focus on the company posting adjusted EPS of $.23 (which soundly beat Wall Street estimates of a $.01 profit), the reality is this quarter was filled with fascinating storylines. On Intel's conference call, CEO Lip-Bu Tan briefly mentioned the company's new division focused on competing with Broadcom ( Nasdaq: AVGO) for the red-hot custom chip business."
"This includes hiring promoting top architecture talent as well as reimagining our core road map to ensure it is the best-in-class features. To accelerate this effort, we recently created the Central Engineering Group, which will unify our horizontal engineering functions to drive leverage across foundational IP development, test chip design, EDA tools and design platforms. This new structure will eliminate duplications, improve time to decision-making and enhance coherence across all product development."
Intel reported adjusted EPS of $0.23, beating Wall Street estimates of $0.01 and driving an 8% after-hours share rise. Management announced the Central Engineering Group to unify horizontal engineering functions, eliminate duplication, speed decisions, and improve product development coherence. The new group will build an ASIC and design-service business to deliver purpose-built silicon for external customers and extend x86 IP into fixed-function and general-purpose solutions. Executives highlighted collaboration with NVIDIA as a potential revenue accelerator in coming years. The quarter featured strategic moves aimed at capturing growing custom-chip demand and leveraging internal design strengths.
Read at 24/7 Wall St.
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