Intel stock rises on earnings beat after cutting expenses

📆 26/10/2023 17:35:00
📰 NBCNewYork

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Intel CFO David Zinsner said in a statement that the company’s earnings per share benefited from controlling expenses.

For the fourth quarter, Intel expects earnings of 23 cents per share, adjusted, on revenue of $14.6 billion and $15.6 billion, versus LSEG expectations of 32 cents per share on $14.31 billion in sales.

Remains of missing Indiana art teacher identified in Puerto Rico, remembered as a ‘supportive' friend Intel’s Data Center and AI division, which offers server chips, saw sales decline 10% to $3.8 billion. Intel foundry services, the company’s nascent chip manufacturing business, remains a small business with $311 million in revenue, but it grew nearly 300% on an annual basis.

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