Intel (INTC.US) stock fell more than 5% despite the fact that the biggest chipmaker posted strong quarterly figures. Company earned $1.39 per share, while analysts expected earnings of $1.15 down. Revenue of $18.57 billion also topped market estimates of $17.90 billion. However second-quarter profit forecast fell short of expectations, even as company raised its annual sales outlook. Reporting for the first time under new CEO Pat Gelsinger, the company said it expects to earn only $1.05 a share, rather than the $1.09 average forecast. This is due to significant expenses to get production operations back on track, which will help Intel catch up with rivals thanks to faster chips.
Intel (INTC.US) stock launched today’s session with a bearish price gap after the chipmaker reported disappointing guidance for the current quarter. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
