Proactive Investors - Intel Corp (NASDAQ:INTC, ETR:INL) shares plunged after Thursday’s closing bell as the PC maker issued weaker-than-expected guidance for the first quarter.
For 1Q, Intel expects adjusted earnings per share (EPS) of $0.13 on revenue in the range of $12.2 billion to $13.2 billion, below Wall Street estimates of EPS of $0.35 on revenue of $14.3 billion, according to Zacks Consensus Estimate.
Meanwhile, Intel’s 4Q results exceeded expectations.
Revenue of $15.4 billion was up 10% year-over-year and topped estimates of $15.1 billion. EPS of $0.63 was ahead of the expected $0.44.
For the full year, revenue fell 14% to $54.2 billion, below estimates of $55 billion but EPS was higher than the expected $0.95 at $1.05.
Intel shares traded down 6.7% at about US$46 following the release of its results.