Intel INTC, -1.76% reported
first-quarter net income of $5.66 billion, or $1.31 a share, compared with
$3.97 billion, or 87 cents a share, in the year-ago period. Adjusted earnings
were $1.45 a share, compared with 89 cents a share in the year-ago period.
Revenue jumped roughly 23% to $19.8
billion from $16.06 billion in the year-ago quarter; Intel’s quarterly revenue
topped $20 billion for the first time in the fourth quarter. Analysts surveyed
by FactSet had projected earnings of $1.28 a share on revenue of $18.67 billion
Intel has suspended stock repurchases
and issued $8 billion in debt since COVID-19 began to sweep across the globe but
had not rescinded financial guidance like many other large companies until
saying Thursday that it would no longer issue annual guidance. Analysts have
suggested that the company stands to benefit in the short term from the
pandemic, as the need for laptops and cloud-computing power to support workers
moving home from the office is thought to have spurred sales of its core PC and
In Thursday’s report, Intel provided
second-quarter guidance for adjusted earnings of $1.10 a share on sales of
about $18.5 billion. Analysts on average were expecting lower sales but higher
profit, according to FactSet, which reports expectations of adjusted earnings
of $1.20 a share on sales of $17.79 billion.
Intel shares sank more than 5% in
after-hours trading and took other chip stocks along with it: Advanced Micro
Devices Inc. AMD, -0.03%, Microchip Technology Inc. MCHP, -0.29% and Applied
Materials Inc. AMAT, -2.32% all sank more than 2% in the extended trading
session among semiconductor companies included in the S&P 500 index SPX,
-0.05%. Intel stock declined 1.8% in the regular session, mostly from a late
drop after Bloomberg News reported that Apple Inc. AAPL, -0.38% is prepping its
own semiconductors for Mac computers.
All information on this website is of a general nature. The information is not adapted to conditions that are specific to your person or entity. The information provided can not be considered as personal, professional or legal advice or investment advice to the user.
Signal Factory is not represented as a registered investment consultant or brokerage dealer nor offers to buy or sell any of the financial instruments mentioned in the service offered.
While Signal Factory believes that the content provided is accurate, there are no explicit or implied warranties of accuracy. The information provided is believed to be reliable; Signal Factory does not guarantee the accuracy or completeness of the information provided. Third parties refer to Signal Factory to provide technology and information if a third party fails, and then there is a risk that the information may be delayed or not delivered at all.
All information and comments contained on this website, including but not limited to, opinions, analyzes, news, prices, research, and general, do not constitute investment advice or an invitation to buy or sell any type of instrument. Signal Factory assumes no responsibility for any loss or damage that may result, directly or indirectly, from the use or dependence on such information.
All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense, also within the meaning of any commercial act or law. Writers, publishers and affiliates of Signal Factory are not responsible for your trading in any way.
The information and opinions contained in the site are provided for information only and for educational reasons, should never be considered as direct or indirect advice to open a trading account and / or invest money in Forex trading with any Forex company . Signal Factory assumes no responsibility for any decisions taken by the user to create a merchant account with any of the brokers listed on this website. Anyone who decides to set up a merchant account or use the services, free of charge or paid, to any of the Forex companies mentioned on this website, bears full responsibility for their actions.
Any institution that offers a service and is listed on this website, including forex brokers, financial companies and other institutions, is present only for informational purposes. All ratings, ratings, banners, reviews, or other information found for any of the above-mentioned institutions are provided in a strictly objective manner and according to the best possible reflection of the materials on the official website of the company.
Forex trading is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against merchants. Before each Forex investment, you should carefully consider your goals, past experience and risk level. The opinions and data contained on this site should not be considered as suggestions or advice for the sale or purchase of currency or other instruments. Past results do not show or guarantee future results.
Neither Signal Factory nor its affiliates ensure the accuracy of the content provided on this Site. You explicitly agree that viewing, visiting or using this website is at your own risk.