Intel Sets Precedent For No Guidance In Tech (NASDAQ: INTC)
January 15, 2009 by Douglas A. McIntyre
Intel Corporation (NASDAQ: INTC) just posted earnings of $0.04 in non-GAAP EPS and $8.23 billion inrevenue. Thomson Reuters (First Call) had estimates at $0.04 non-GAAPEPS and $8.21 billion in revenue. The company had warned recently that sales would be roughly $8.2 billion. What is more important is itsdiscussion ahead.
The company is saying that the economy and industry are in theprocess of resetting to a new baseline that will mark where growthresumes. In short, declines are continuing or at least the days of oldgrowth are behind it for now.
As we expected, no formal guidance was offered. But it did notethat it is planning for roughly $7 billion in quarterly revenue. Itnow sees margins declining into the low forty-percent range. Nextquarter consensus estimates are $0.12 non-GAAP EPS on $7.28 billion inrevenue.
Shares closed up 1.6% at $13.29 in regular trading and the initialreaction in after-hours trading has shares essentially unchanged.
Jon C. Ogg
January 15, 2009
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