Intel forecasts quarterly revenue and profit below estimates [Globe and Mail, The (Toronto, Canada)]
Intel Corporation (INTC)
Last intel corporation earnings: 4/23 04:07 pm
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US:NASDAQ Investor Relations:
intc.com/investor-relations/default.aspx
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Source: Globe and Mail, The
Intel shares slumped roughly 5 per cent in the extended session. It expects adjusted earnings per share to break even in the first quarter, compared with expectations of adjusted earnings of 5 cents per share. Investors and analysts have hoped that rapid data centre buildouts commissioned by large tech companies to advance their AI businesses will drive sales for Intel's traditional server chips that are used alongside Nvidia's market-leading graphics processing units (GPU). Opinion: Struggling Intel could sink Trump's chip-making scheme After years of missteps left Intel struggling in the fast-growing AI chip market and drained its finances, Tan has engineered a turnaround strategy centred on cutting costs and eliminating management layers, while championing a fresh product road map. With a slew of high-profile investments in Intel last year – a US$5-billion investment from Nvidia, US$2-billion from SoftBank and a U.S. government stake in the company – investors' confidence
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