Intel's Q3 Performance Beats The Street, Chipmaker Issues Strong Q4 Outlook, Stock Gains
Portfolio Pulse from Ryan Gustafson
Intel Corporation reported Q3 earnings per share of 41 cents, beating the estimate of 22 cents per share. It also reported revenue of $14.2 billion, topping the $13.532 billion estimate. The company's Mobileye business unit reported Q3 revenue of $530 million, up 18% YoY. Intel expects Q4 earnings per share of 44 cents, higher than the estimate of 30 cents, and revenue between $14.6 billion and $15.6 billion, higher than the $13.53 billion estimate. Shares of INTC were up 6.06% in the after-hours session.
October 26, 2023 | 8:55 pm
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Intel's Q3 earnings and revenue beat estimates, and the company issued a strong Q4 outlook. This news led to a 6.06% increase in INTC shares in after-hours trading.
Intel's better-than-expected Q3 earnings and revenue, along with a strong Q4 outlook, are positive news for the company. This likely led to the increase in INTC shares in after-hours trading. Given the direct impact of earnings and outlook on a company's stock price, this news is highly relevant and important for INTC investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100