Intel Earnings: Here’s Why Investors are Riding a Rollercoaster
Intel Corporation (NASDAQ:INTC) generated a profit and beat Wall Street’s expectation. Despite exceeding analyst estimate, Intel delivered a decline in top-line and bottom-line year-over-year numbers. Shares are down 2.43%.
Intel Corporation Earnings Cheat Sheet
Results: Net income decreased -22.62% to $2.6 billion (48 cents per diluted share) in the quarter versus a net gain of $3.36 billion in the year-earlier quarter.
Revenue: Decreased 2.79% to $13.5 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Intel Corporation reported adjusted net income of 48 cents per share. By that measure, the company beat the mean analyst estimate of $0.45. Intel was in-line with the average revenue estimate of $13.53 billion.
Quoting Management: “The fourth quarter played out largely as expected as we continued to execute through a challenging environment,” said Paul Otellini, Intel president and CEO…