Intel posted its quarterly earnings that surpassed expectations. However, the chipmaker issued guidance on second quarter that was less optimistic compared to analysts’ forecasts.
The company’s earnings came in at 87 cents per share vs. 81 cents as expected by analysts, according to Refinitiv.
Revenue fell -7% from the year-ago quarter to $18.35 billion, vs. $18.31 billion as expected by analysts, according to Refinitiv.
Intel expects adjusted second quarter-earnings per share to be 70 cents and $18.0 billion in revenue. Analysts polled by Refinitiv had predicted 83 cents in adjusted earnings per share on $18.38 billion in revenue.
Looking further ahead, Intel lifted its full fiscal year adjusted earnings guidance by 10 cents to $3.60 per share on $76 billion in revenue. Analysts surveyed by Refinitiv expected earnings of $3.50 per share and $75.78 billion in revenue.