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Intel dipped down over 6% after CEO Bob Swan says it's 'taking a more cautious view of the year' as it slashes its earnings forecast

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Intel Q1 Revenue $16.1 billion ($16.02 billion expected)

Intel stock fell over 6% after new CEO Bob Swan said the company is"taking a more cautious view of the year" as it cuts its forecast for the next quarter.in January, Intel reported revenue of $16.1 billion and earnings of $0.89 per share for the first three months of 2019, roughly in line with Wall Street expectations. Notably, that revenue figure is roughly flat from the same period of 2018.

"Looking ahead, we're taking a more cautious view of the year, although we expect market conditions to improve in the second half," Bob Swan, Intel CEO, said in a statement.$0.89, versus Wall Street expectations of $0.87.$16.1 billion, versus $16.02 billion expected. This figure is roughly flat from the same period of 2018.$15.6 billion. Analysts forecasted $16.85 billion.

 

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