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Why Intel Stock Was Tumbling Today [Yahoo! Finance]
Last intel corporation earnings: 4/23 04:07 pm
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US:NASDAQ Investor Relations: intc.com/investor-relations/default.aspx
quarter, confirming fears that it's still missing out on the artificial intelligence (AI) boom. As a result, the stock was down 9.7% as of 1:47 p.m. ET. Intel beat estimates, but Q2 looks weak For the first quarter, Intel reported a 9% increase in revenue to $12.7 billion, well ahead of estimates at $11.9 billion. Revenue growth in its PC-focused client computing group bounced back, rising 31% to $7.5 billion, though the data center and AI segment was weak, with revenue up just 5% to $3 billion. In part due to easy comparisons with a sluggish quarter a year ago, gross margin rose 6.8 percentage points to 41%, and the company also reversed an operating loss from a year ago, finishing the quarter with adjusted earnings per share of $0.18, which topped expectations at $0.13. CEO Pat Gelsinger said, "We are making steady progress against our priorities and delivered a solid quarter," adding, "We are confident in our plans to drive sequential growth throughout the year as we acce
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