Intel Shares Fall On Q1 Revenue Miss, Weak Q2 EPS Guidance
Portfolio Pulse from Erica Kollmann
Intel Corporation (NASDAQ:INTC) shares dropped after reporting Q1 sales below expectations and weak Q2 EPS guidance. Despite beating EPS estimates with 18 cents per share, its $12.72 billion revenue missed forecasts. The company anticipates Q2 earnings of 10 cents per share with revenue between $12.5 billion and $13.5 billion. CEO Pat Gelsinger highlighted progress and innovation, particularly in Intel 3 production and Intel Foundry, despite some segment declines.
April 25, 2024 | 8:24 pm
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Intel Corporation reported lower than expected Q1 sales and provided weak Q2 EPS guidance, causing its shares to drop 8.7% after-hours.
Intel's share price decline is directly attributed to its Q1 revenue miss and the weaker than expected Q2 earnings per share guidance. The after-hours trading reaction reflects immediate investor disappointment, suggesting a negative short-term impact on the stock.
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