Global business news twenty four hours a day at Bloomberg dot com, the radio, plus Globo laps and on your radio. This is a Bloomberg Business Flight from Bloomberg World Handquarters. I'm Charlie Pella. Just heard from eBay reporting second quarter adjusted earnings per share from continuing operations of forty three cents. Estimates were for forty two cents. eBay boosting its yearly forecast.
Intel second quarter adjusted EPs fifty nine cents, estimates there fifty four cents, and American Express said second quarter profit rose thirty seven percent as customers increased spending in the company booked a billion dollar gain from the sale of its Costco wholesale core portfolio stocks, hire, S and p at a record seventy three up nine points, a gain
of four tenths, up one percent. The down Jones Industrial average up thirty six points, a gain of two tenths of one percent to eighteen thousand, five nine, has stack up fifty three to five thousand nine, Gold down seventeen fifty the ounce to drop of one gold at thirteen fourteen the ounce. I'm Charlie Pellets, and that's a Bloomberg Business flash. You're listening to Taking Stock with and Pim
Fox on Bloomberg Radio. Shares of Intel are down about one and a quarter percent right now after reporting quarterly results. Here to tell us more on on Trin of Austin, his senior semiconductor and hardware analysts for Bloomberg Intelligence, providing unique and real time research and a variety of industries and markets as well as government factors that affect business. Our terminal customers can access this function at b I go on on, tell me about what's going on with Intel.
I think these were very solid numbers, both for the current quarter as well as for the guidance, which is a more important factor for semi conductor stocks, which tend to are be very forward looking. But I think this is also a case where the stock got ahead of itself. I mean, the stock is seventeen percent since the twenty seventh of last month. So you had multiple data points
from the food chain hard to strive makers. You had market research firms such as Gardner and i DC come out and saying, hey, the PP business is not as bad as we thought it was. The US is actually showing growth. So you had several data points come out and the stock has moved in advance of that. So despite good numbers, the stocks a little week. But these are very very solid numbers across the board, both for
the current quarter as well as guidance. Spin tell me about the server business at Intel and what that portends for the future. Look, I mean this is this is a company and transition as they try very hard to move away from PCs UM and into focus more on the data center business, which is UH, which is growing okay for them, they want to hit year on your growth, but the in in the long term they well might.
But the more important part of it is is this is a high profitable business for them, with not as much volatility UM as the PC business. UM a PC
business does. So if you look at Q two for the data center business, the average selling prices were actually up, unlike the PC business, so UM compared to Q two of last year that UM overall Q versus Q two UH, they they had a positive mid single digit revenue in that in that division, UM units were up about eight percent and selling prices were only down about two On we should we make anything of those increased restructuring charges one point six billion of four hundred million from the
previous guidance on restructuring. Yeah, this is part of the pivot. Pivot might be moving a little faster than than than initially thought away from the PC business. So it actually should be taken as a positive step in that they're a will to reduce headcount and just cost a little faster than they thought originally. So I think it should be translated to the positive. The one point, you know, Intel has hasn't had the best history of timing of
movements in terms of markets. The one thing that I'm nervous about is the fact that are we moving too quickly away from PCs just when PCs are starting to show signs of life. So, um, it's an interesting, interesting time in the PC market. But we'll have to wait and see how how that trend plays out. One quarter doesn't other trend make all right? And just last day, I want to get your thoughts on the Internet connected devices and that business. For Intel, it's too small of
a business to be quite honest. They've thrown a whole bunch of things in there. So it's it's early. Um, it's early days in that business. But at the end of the day, the fact that it hasn't caused a dramatic reduction in sales or EPs, as there is a lot of that business. Is UH is a step in the right direction. I'm going to turn your attention now on onto Qualcom. The stock is up nearly four percent in after hours trading. Tell us about Qualcom's results. So, Qualcom,
this is a case where expectations were relatively low. The company has faced substantial loss of market share across the board UM. So the fact that they came um relatively in line is slightly better than street numbers for the June quarter and for the for the September guidances. Is UH is a step again in the right direction. It's
a question of how management spins. It is what the long term prognosis for for their presence in the handset business looks like, yeah, well, they're talking about the September period that ends in September, and they said that profit before certain times is going to be between a dollar
and five cents to dollar fifteen cents. Previously analysts we're looking for a dollar eight eight right, So so again it's a it's a question of how you how you The context is, look at the end of the day, when when we moved from two G, two three G and three G to four G. The next version of technology was right there, so as people were moving from one to the other, Quacolm was always ahead of the curve and had a certain amount of chips in the
next generation. The problem with US now is Qualcomm is the market leader in four G and three G and five G isn't around yet. There's nothing to upsell. So the Johnny Come late Leads of the world are taking share substantially from Qualcom in every segment of the market, and Qualcomm is um the market share leader, and it's got nothing to do but see that market share, particularly when pricing comes into play. Well, I'm looking at Qualcom stock right now up seven and a quarter percent. The
company getting its profit mainly from patent licensing. Tell us about what they're trying to do. In China, that's the world's largest smartphone market. Yeah, so this is a market that is still moving upstream in terms of volume and the distribution of phones across um UM three G still moving to four G. So as non brand name phones, particularly such as Opo, uh cel, Me, Vivo, etcetera, moved from using um media tech chips to more Qualcom chips or more importantly PG tips to four D tips their
revenue expand. So anything they can do in China and spend that story in a positive lady is a good for Qualcom. Thank you very much. On on scrint of Bustin Senior Semiconductor and hardware analysts for Bloomberg Intelligence shows a qual Com up seven and a half percent and after I was trading, Intel shares down one and a quarter percent, and after I was trading, this is Bloomberg coming up. Bloomberg Laws. Brought you by New York Community Bank.
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