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Intel stock rises on earnings beat and strong revenue guidance

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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.

CFO David Zinsner said in a statement that Intel's earnings per share this quarter benefited from the company controlling expenses. Intel said it has 120,300 employees, down from 131,500 last year.Sales in Intel’s Client Computing group, including laptop and PC processor shipments, were down 3% to $7.9 billion.

Mobileye, a publicly-traded Intel subsidiary for self-driving car parts, was a bright spot, growing 18% to $530 million in sales. Intel’s network and edge division, which sells networking parts, reported sales down 32% to $1.5 billion.

 

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