Market Overview

Intel Down Slightly After Q3 Results

Leading global semiconductor manufacturer Intel (NASDAQ: INTC) released its third-quarter earnings results after the closing bell on Tuesday. The company reported net income of $2.97 billion or $0.58 per share, compared to $3.47 billion or $0.56 per share, in the year earlier period.

On a non-GAAP basis, Intel's net income was $3.12 billion or $0.60 per share, versus $3.63 billion or $0.68 per share, last year. This compared to analysts' consensus EPS estimates of $0.50.

Net revenues fell to $13.46 billion from $14.23 billion last year. This also exceeded Wall Street consensus estimates of $13.23 billion.

Looking ahead to the fourth-quarter, Intel said that it expects revenues of $13.6 billion, plus or minus $500 million. This compares to current consensus revenue estimates of $13.78 billion for the fourth-quarter.

In Tuesday's after hours trading session, INTC moved down about 1.25 percent to $22.07.

Posted-In: Earnings News Guidance Intraday Update Movers Tech Best of Benzinga

 

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