Intel shares fell more than 12% in after-hours trading, dropping to $47.35, after the chipmaker issued weaker-than-expected guidance for the current quarter.
For the fourth quarter, Intel reported revenue of $13.67 billion, down 4.1% year on year, but above the market expectation of $13.43 billion. Adjusted earnings per share (EPS) came in at $0.15, up from $0.13 a year earlier and ahead of the consensus estimate of $0.09.
Looking ahead, Intel forecast first-quarter adjusted EPS of $0.00, below the market expectation of $0.08. The company also projected first-quarter revenue of $11.7 billion to $12.7 billion, compared with a consensus estimate of $12.56 billion.
Explore more exclusive insights at nextfin.ai.
Insights
What caused Intel shares to drop more than 12% recently?
What is the significance of Intel's fourth quarter revenue report?
How do Intel's adjusted earnings per share compare year on year?
What are the current market expectations for Intel's first-quarter revenue?
How do Intel's earnings projections differ from market consensus?
What trends are currently impacting the chip industry market?
What recent news has affected investor confidence in Intel?
What long-term impacts could Intel's recent performance have on its market position?
What challenges does Intel face in the current chip market landscape?
How does Intel's performance compare to its competitors in the chip industry?
What are the implications of weaker-than-expected guidance for Intel's future?
What factors contributed to Intel's revenue decline year on year?
How does market sentiment influence Intel's stock performance?
What strategic changes might Intel consider in response to current challenges?
What role does investor guidance play in the stock performance of companies like Intel?
How might Intel's earnings projections evolve in light of industry trends?
