Intel Earnings Review and Forecast
Intel (INTC) shares experienced a downturn in after-hours trading on Thursday following the company’s first-quarter forecast for 2024, which fell short of analysts’ expectations. Despite this, Intel’s latest quarter results exceeded Wall Street predictions.
Earnings and Revenue Beat
Intel reported an adjusted EPS of 54 cents, surpassing the anticipated 45 cents. Revenue reached $15.4 billion, exceeding the expected $15.15 billion. This performance marks a significant improvement, breaking a seven-quarter streak of declining revenue.
First Quarter 2024 Outlook
However, the outlook for the first quarter of 2024 is less optimistic. Intel predicts an EPS of 13 cents on sales between $12.2 billion and $13.2 billion, significantly…
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