Intel’s third-quarter results were mixed: revenue was $16.51 billion, just below the $16.54 billion analysts expected, while adjusted earnings per share of 52 cents beat the 41-cent estimate. Its data-center and AI business also exceeded expectations, bringing in $7.3 billion against a forecast of $6.7 billion. Foundry revenue reached $6.7 billion, compared with estimates of $6.1 billion. These stronger earnings and business-line figures were not enough to reassure investors about the company’s near-term prospects.
The main concern was Intel’s fourth-quarter forecast. The company projected revenue of $15 billion to $16 billion, well below the $17 billion analysts had anticipated, and adjusted gross margin of 38%, versus an expected figure of nearly 43%. Yahoo Finance’s market commentators said the outlook, which often drives share-price reactions more than past results, was behind the sharp sell-off: Intel shares were reported down about 17% in extended trading. The discussion therefore centers on a contrast between areas of recent performance that beat expectations and guidance that signals weaker revenue and profitability in the coming quarter.
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