Intel Shares Surge In Premarket After Q3 Results: What's Going On
Portfolio Pulse from Benzinga Neuro
Intel's shares surged 6% in pre-market trading after Q3 earnings exceeded expectations. Despite a reported loss per share, revenue surpassed estimates. CEO Pat Gelsinger highlighted progress in cost reduction and efficiency. Intel projects Q4 revenue between $13.3B and $14.3B, with a gross margin of 39.5% and EPS of $0.12.
November 01, 2024 | 11:53 am
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Intel's shares rose 6% in pre-market trading after Q3 earnings exceeded expectations. Despite a loss per share, revenue was higher than forecasted. The company is making progress in cost reduction and efficiency, with positive projections for Q4.
Intel's better-than-expected Q3 earnings and revenue, along with positive guidance for Q4, have led to a 6% increase in pre-market trading. The company's focus on cost reduction and efficiency improvements is seen as a positive sign by investors.
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