Intel CEO confident in its AI future after posting soft guidance [Yahoo! Finance]
Intel Corporation (INTC)
Last intel corporation earnings: 4/23 04:07 pm
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Source: Yahoo! Finance
Shares of the chipmaker fell 8% on Friday, following several hiccups in its first quarter results and second quarter guidance. While the company's first quarter earnings managed to surpass forecasts by $0.05, its guidance for the rest of the year came below consensus. "We have a lot of great things happening in the second half of the year. We feel very comfortable with the outlook we have," Intel CEO Pat Gelsinger said to Yahoo Finance. The selling pressure on Intel's stock stems from two areas. First, results for the quarter were constrained by a wafer supply issue that Wall Street failed to properly model. And second, there was some demand softness from customers — which is causing Intel execs to be on the cautious side for the second quarter guidance. Intel expects second quarter sales of between $12.5 billion and $13.5 billion. Analysts were anticipating $13.63 billion. Earnings are projected at $0.10 per share, short of analyst forecasts for $0.24. "We believe Intel
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News
- AI Chipset Shipments Reach 1.3 Billion in 2030, Bringing On-Device AI to Smartphones, PCs, Tablets, and Gaming Consoles [Yahoo! Finance]Yahoo! Finance
- INTC INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Intel Corporation Investors Can Join the Class Action Lawsuit!Accesswire
- INTEL CORPORATION (NASDAQ:INTC) DEADLINE ALERT: Bernstein Liebhard LLP Reminds Intel Corporation Investors of Upcoming DeadlineAccesswire
- INTEL ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Intel Corporation and Encourages Investors to Contact the FirmGlobeNewswire
- SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Intel Corporation - INTCPR Newswire
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Earnings
- 4/25/24 - Beat
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