Intel’s (INTC) rose 1.4% during today’s session just ahead of earnings. The stock closed at $20.98.
The large chip company’s revenue fell 1% in the latest quarter to $8.9 billion. Net income was up 19% compared to the same quarter a year ago, hitting $1.6 billion. EPS rose 17% to $.27
Analysts are looking for earnings of 22 cents per share from and revenue of $9 billion, according to a Thomson Financial poll. The company has forecast $8.7 billion to $9.3 billion in first-quarter revenue.
Intel guided for the revenue in the current quarter to be between $8.2 and $8.8 billion. Gross margins should drop slightly to 48%.
While Q2 guidance seemed very soft, the fact that the margins at the business are not collapsing because of the company’s fight for market share with AMD (AMD) must have been some comfort. Intel shares were up almost 1% at 4.21 PM in after hours trading.
Douglas A. McIntyre