Intel drops 7% on weak outlook
Intel stock fell more than 7% in extended trading after providing a weaker-than-expected revenue forecast for the year. The company's first-quarter earnings topped analysts' estimates.Intel said it expects full year revenue of $69.0 billion compared to estimates of $71.05 billion. That would be a decline from $70.8 billion in 2018 and mark the company's first revenue drop since 2015.
Intel said last week that it's exiting the 5G smartphone market after determining there was"no clear path to profitability," further ceding the mobile phone chip business to Qualcomm. The company also said it's assessing its future in so-called internet of things devices, or the growing number of gadgets that are connected to the web.
That leaves the company increasingly reliant on the data center business, where Intel has dominant market share in providing chips for servers. But revenue for Intel's data-centric businesses fell 5% year over year in the first quarter, the company said. Its Data Center Group reported revenue of $4.9 billion for the quarter, down from $5.2 billion during the same quarter last year.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
What this week’s Apple-Qualcomm-Intel dance means for the future of 5GQualcomm is now alone at the top of the 5G chip market.
Weiterlesen »
Intel set to report first-quarter earnings after the bellIntel is providing its first earnings report since announcing that it's exiting the 5G smartphone market.
Weiterlesen »
Intel drops 7% on weak outlookIntel reported higher EPS and revenue than analysts had expected, though shares dropped on the earnings report in post-market trading.
Weiterlesen »
Intel stock plummets on disappointing earnings outlook as new CEO takes ‘a more cautious view’Intel Corp. shares dropped in the extended session Thursday after the chip giant’s outlook fell way below Wall Street estimates offsetting an earnings beat.
Weiterlesen »
Intel Trims Financial Forecast for YearIntel trimmed its financial forecast for this year and said quarterly sales of chips for data centers declined for the first time in seven years, reflecting uncertainty in a business-computing market that had been growing rapidly.
Weiterlesen »
Stocks making the biggest moves after hours: Amazon, Ford, Intel & moreSee which stocks are posting big moves after the bell on April 25.
Weiterlesen »
Intel cuts full-year revenue forecast, misses on data-center salesChipmaker Intel Corp cut its full-year revenue forecast on Thursday and missed a...
Weiterlesen »
Intel cuts forecast as China data center sales remain weakChipmaker Intel Corp on Thursday cut its full-year revenue forecast and missed a...
Weiterlesen »
New Intel CEO rips the band-aid offIntel Corp.’s new chief executive officer Bob Swan pulled the band-aid off on some of chip giant’s issues this quarter, hoping to solve them in one swoop,...
Weiterlesen »
INTC Stock | INTEL Stock Price Today | Markets Insider
Weiterlesen »
Intel dipped down over 6% after CEO Bob Swan says it's 'taking a more cautious view of the year' as it slashes its earnings forecastOne week after new CEO Bob Swan's surprise move to get out of the smartphone business, Intel reported its Q1 earnings. Stock fell 6% after the bell.
Weiterlesen »