https://nighthawkrottweilers.com/

https://www.chance-encounter.org/

Business

Intel turns on the earnings. The stock rises.




Intel posted earnings and guidance above expectations Thursday, and shares rose in late trading, after its chief financial officer said the company is starting to see “green shoots.”

The semiconductor company reported a loss of 4 cents in adjusted earnings per share for the first quarter, compared with the Wall Street consensus estimate of a loss of 16 cents, according to FactSet. Revenue came in at $11.7 billion, which was above analysts’ expectations of $11.01 billion, but was down 36% year over year.

To…

Intel posted earnings and guidance above expectations Thursday, and shares rose in late trading, after its chief financial officer said the company is starting to see “green shoots.”[ads1];

The semiconductor company reported a loss of 4 cents in adjusted earnings per share for the first quarter, compared with the Wall Street consensus estimate of a loss of 16 cents, according to FactSet. Revenue came in at $11.7 billion, which was above analysts’ expectations of $11.01 billion, but was down 36% year over year.

For the current quarter, Intel provided a revenue forecast of $11.5 billion to $12.5 billion — which was above the consensus of $11.74 billion at the midpoint.

Intel (ticker: INTC ) shares rose 3.8% to $31.00 in the after-hours session.

In a telephone interview with Barron’s, Intel CFO David Zinsner said the company still faces a tough macro environment, but the overall outlook for PC demand was roughly in line with their expectations during the quarter. The executive reconfirmed Intel’s previous PC industry forecast for 2023 for the low end of a range of 270 million to 295 million units. On the positive side, he said Intel saw some stability in PC demand and “green shoots” of positive economic progress in China.

Advertisement – Scroll to continue


Sales of PCs – many of which are powered by Intel chips – have only gotten worse in recent quarters. Earlier this month, research firm IDC said worldwide shipments of PCs fell 29% in the March quarter from a year earlier. This follows a decrease of 28% from a year earlier in the December quarter and a decrease of 15% in the September quarter.

Intel stock has fallen about 35% in the past 12 months.

Write to Tae Kim at tae.kim@barrons.com



Source link

Back to top button

mahjong slot

https://covecasualrestaurant.com/

sbobet

https://mascotasipasa.com/

https://americanturfgrass.com/

https://www.revivalpedia.com/

https://clubarribamidland.com/

https://fishkinggrill.com/