Gelonghui, April 26 | Intel (INTC.US) fell more than 7% to US$32.42 before the opening.
Intel released results after the market closed on Thursday, showing first-quarter revenue of US$12.72 billion. Analysts expected US$13 billion.
Data center and AI revenue in the first quarter was US$3 billion.
First-quarter customer computing revenue was $7.5 billion. All other revenue was $775 million.
Adjusted EPS in the first quarter was $0.18. Analysts expected $0.13.
The adjusted gross profit margin in the first quarter was 45.1%. Analysts expected 44.5%.
Second-quarter revenue is expected to be US$12.5 billion-13.5 billion. Analysts expected US$13.63 billion.
The adjusted profit margin in the second quarter is expected to be 43.5%. Analysts expected 45.3%.
Confidence in those plans for sequential (revenue) growth in 2024.
The company is on track to regain its leadership position in the processor market by 2025.
Intel\’s CFO said that its performance guidance has been impacted by the shortage of (chip) packaging capacity.
Cloud sales are better than AI computer processors.
The weak performance in the first half of the year is expected. The performance in the second half of the year is expected to be better.
The foundry unit is expected to be on track to break even within two years.
Margin improvement is expected to accelerate.
The first quarter was the low point for the industry.
Many signals indicate that demand will improve in the second half of the year.
Intel fell more than 7% before opening, Q2 revenue outlook lower than expected
Gelonghui April 26 | Intel (INTC.US) fell more than 7% to US$32.42 before the market opened.
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April 26, 2024 4:38 pm