tech
Intel stock falls 6% after company offers soft first-quarter guidance
Intel reported fourth-quarter earnings on Thursday that beat Wall Street expectations but offered soft guidance for the current quarter.
TL;DR
- Intel reported fourth-quarter earnings and revenue that exceeded LSEG consensus estimates.
- The company issued soft guidance for the first quarter, projecting revenue between $11.7 billion and $12.7 billion and breakeven adjusted EPS, which was below expectations.
- Intel's stock fell in after-hours trading following the earnings report and guidance.
- The company reported a net loss of $600 million for the quarter.
- CEO Lip-Bu Tan expressed optimism about the 18A manufacturing technology's readiness for volume production.
- Data Center and AI sales revenue increased by 9% year-over-year to $4.7 billion.
- Client Computing Group sales (laptop chips) decreased by 7% year-over-year to $8.2 billion.
- Intel completed a $5 billion stock sale to Nvidia during the quarter.
- The company is working to increase 18A supply to meet customer demand and expects customers for its 14A technology in the second half of the year.