Intel Shares Slide as Weaker Q4 Outlook Overshadows Data Center Growth
Intel reported third-quarter sales of $16.5 billion and non-GAAP EPS of $0.52, then issued a weaker fourth-quarter outlook. A factory shutdown, PC weakness and supply constraints weighed on expectations.
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01:06:39 PM UTC
SquawkNews
Intel NASDAQ:INTC shares fell 25.26% in premarket after the company reported third-quarter non-GAAP EPS of $0.52, above the analysts' consensus of $0.41, on revenue of $16.5 billion, in line with the $16.56 billion estimate.Revenue rose 21%, as Data Center and AI revenue jumped 78% to $7.3 billion…
Intel Corp. (INTC, Financials), the semiconductor manufacturer, delivered stronger third-quarter results but issued a weaker fourth-quarter outlook as a factory shutdown, PC weakness and supply constraints weighed on expectations.Third quarter sales was $16.5 billion, with non-GAAP EPS of $0.52 and…