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- Intel beats estimates, but future outlook falls short – the stock dips in the after-hours
- Home
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- Intel beats estimates, but future outlook falls short – the stock dips in the after-hours
- Founded: 1968
- Headquarters: Santa Clara, California, United States
- Number of employees: 131,900 (2022)
- Industry: Semiconductors, Computer hardware, Autonomous cars, Automation, Artificial intelligence
- Key people: Frank D. Yeary (chairman), Pat Gelsinger (CEO)
- 5 day: +6.01%
- 1 month: -1.67%
- 3 months: +52.37%
- Year-to-date: -1.39%
- 1 year: +64.67%
- Rosenblatt: $17
- Cantor Fitzgerald: $50
- Raymond James: $54
- TD Cowen: $45
- Susquehanna: $42
- Barclays: $44
- Stifel Nicolaus: $45
- Deutsche Bank: $42
- Bank of America: $50
- Benchmark: $52
- Mizuho: $50
- Needham & Company LLC: $40
- HSBC: $33
- Morgan Stanley: $39
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
- Reduce your risk and hedge your existing positions ahead of a new trading day
- Extended trading hours on popular US stocks means extended opportunities
News & AnalysisNews & AnalysisIntel beats estimates, but future outlook falls short – the stock dips in the after-hours
29 January 2024 By Klavs ValtersUS technology giant, Intel Corporation (NASDAQ: INTC), reported Q4 2023 financial results on Thursday.
World’s largest semiconductor company by revenue reported revenue and earnings per share (EPS) that beat analyst estimates.
Revenue reached $15.406 billion vs. $15.159 billion expected. Revenue grew by 10% year-over-year.
EPS reported at $0.54 vs. $0.447 per share estimate. EPS was up by 260% vs. Q4 2022.
Intel expects revenue of between $12.2 to $13.2 billion for Q1, below analyst estimate of $14.15 billion.
EPS expected to be $0.13 vs. $0.33 per share expected.
Company overview
CEO commentary
”We delivered strong Q4 results, surpassing expectations for the fourth consecutive quarter with revenue at the higher end of our guidance,” CEO of Intel, Pat Gelsinger, said in a statement to investors.
”The quarter capped a year of tremendous progress on Intel’s transformation, where we consistently drove execution and accelerated innovation, resulting in strong customer momentum for our products. In 2024, we remain relentlessly focused on achieving process and product leadership, continuing to build our external foundry business and at-scale global manufacturing, and executing our mission to bring AI everywhere as we drive long-term value for stakeholders,” Gelsinger added.
Stock reaction
The stock was up by 0.94% on Thursday, trading at $49.55 a share.
Despite beating expectations for Q4 2023, the stock fell by around 8% in after-hours trading as future outlook came in below estimates.
Stock performance
Intel stock price targets
Intel Corporation is the 52nd largest company in the world with a market cap of $208.90 billion.
You can trade Intel Corporation (NASDAQ: INTC) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to ”Trading” then select ”Share CFDs”.
GO Markets offers pre-market and after-market trading on popular US Share CFDs.
Why trade during extended hours?
Sources: Intel Corporation, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap, Gartner, CNBC, LSEG
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