Intel results beat on demand for data center chips [Reuters]
Intel Corporation (INTC)
Last intel corporation earnings: 4/23 04:07 pm
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Source: Reuters
Intel results beat on demand for data center chips | Reuters Reuters Staff 1 Min Read (Reuters) - Intel Corp ( INTC.O ) beat revenue and profit expectations for the first quarter on Thursday, driven by higher demand for chips from data centers and personal computers. Shares of the Santa Clara, California-based chipmaker rose 5.2 percent to $55.85 after the bell. Intel has been focused on transforming itself from a supplier of personal computers to a maker of chips for growing data center business and newer areas such as driverless cars and artificial intelligence. The company’s net income rose to $4.45 billion, or 93 cents per share, in the quarter ended March 31, from $2.96 billion, or 61 cents per share, a year earlier. Net revenue rose to $16.07 billion from $14.80 billion. Excluding items, the chipmaker earned 87 cents per share. Analysts on average were expecting Intel to report a profit of 72 cents per share on a revenue of $15.08 billion, according to Thomson Reuters I/B/E/S.
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News
- Intel Co. (NASDAQ: INTC) had its price target lowered by analysts at Evercore ISI from $40.00 to $36.00. They now have an "in-line" rating on the stock.MarketBeat
- Intel Co. (NASDAQ: INTC) had its price target lowered by analysts at Morgan Stanley from $48.00 to $36.00. They now have an "equal weight" rating on the stock.MarketBeat
- Intel Co. (NASDAQ: INTC) had its price target lowered by analysts at Sanford C. Bernstein from $42.00 to $35.00. They now have a "market perform" rating on the stock.MarketBeat
- Intel Co. (NASDAQ: INTC) had its price target lowered by analysts at JPMorgan Chase & Co. from $37.00 to $35.00. They now have an "underweight" rating on the stock.MarketBeat
- Intel Co. (NASDAQ: INTC) had its "hold" rating re-affirmed by analysts at Needham & Company LLC.MarketBeat
INTC
Earnings
- 4/25/24 - Beat
INTC
Sec Filings
- 4/26/24 - Form 10-Q
- 4/26/24 - Form IRANNOTICE
- 4/25/24 - Form 8-K
- INTC's page on the SEC website