Intel posted strong first quarter results, but its weak outlook sent its shares sliding late Thursday.
CEO Bob Swan also reaffirmed the company's long term strategy telling analysts in an earnings call: " But the tech giant posted a weak outlook that sent its shares sliding late Thursday. CEO Bob Swan pointed to a blurry road ahead as the world reeled from the coronavirus crisis, but he affirmed Intel's long term strategy focused on huge opportunities in the data center market.
Intel reported a first quarter profit of $5.7 billion or $1.31 a share, compared with a profit of $4 billion, or 87 cents a share for the year-ago quarter. Revenue rose 23% to $19.8 billion. Adjusted profit was $1.45 a share.Intel said it expects earnings of $1.10 a share on revenue of $18.5 billion in the current quarter. Analysts were expecting a profit of $1.19 a share on revenue of $18 billion.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
YouTube CEO suggests platform will ban videos contradicting WHO guidance - Business InsiderYouTube's CEO suggested content that 'goes against' WHO guidance on the coronavirus will get banned Pathetic leadership. I'm boycotting youtube and will now only watch pornhub. Let the global censorship begin. Why stop with WHO, let's include governments too. Let's cheer in the age of fascism and closed borders, under the banner of stay home, save lives, obey. 'This is how liberty dies, with thunderous applause'. What about lies of WHO and China ?
Source: BusinessInsider - 🏆 729. / 51 Read more »
Epic CEO Judy Faulkner on how coronavirus will change US healthcare - Business InsiderBankruptcies, tech-savvy doctors, and data for the greater good: The CEO of health-tech giant Epic shares her predictions for how US healthcare will change after the coronavirus
Source: BusinessInsider - 🏆 729. / 51 Read more »
Delta CEO: Business will take 'two to three years' to recover from coronavirusDelta's CEO Ed Bastian said he expects it will take years for the airline's business to recover from the coronavirus outbreak. How will they recover, if there are no flights? 🤔 This Will be over when the fake economy by the real economy the spread of fears by companies like Microsoft Netflix Google and Amazon it’s unbelievable I don't think so. I would think the revenue would never go back. I know I don't have to travel that many I used to. My travel will be at most 1/2 post virus.
Source: CNBC - 🏆 12. / 72 Read more »
Intel drops on earnings, but two traders still see opportunityIntel shares moved lower after hours Thursday, but Todd Gordon of Ascent Wealth Partners and Gina Sanchez of Chantico Global still see value. TradingNation No need to Intel? why is it down, its not getting infected by virus. Cyborg will take over the WORLD TradingNation The way the markets are being manipulated, just throwing money at the market will guarantee a profit! Not for much longer though... TradingNation Sopo wingi sing ngidam intel indomie telur razizr giselafernandap aframadhany
Source: CNBC - 🏆 12. / 72 Read more »