Shares of Intel INTC dropped about 9.4% after the company reported Q3 results.
Earnings per share fell 21.83% year over year to $1.11, which beat the estimate of $1.10.
Revenue of $18,333,000,000 declined by 4.47% year over year, which beat the estimate of $18,220,000,000.
Intel Sees FY20 Adj. EPS Guidance $4.90 vs $4.85 Estimate
Intel Raises FY20 10nm Products Shipment Guidance By 30%
How To Listen To The Conference Call
Date: Oct 22, 2020
Time: 05:00 PM
ET Webcast URL: https://edge.media-server.com/mmc/p/kjcgrzng
Company's 52-week high was at $69.29
52-week low: $43.63
Price action over last quarter: Up 6.38%
Intel Corp is one of the world's largest chipmakers. It designs and manufactures microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors. It is also the prime proponent of Moore's law for advances in semiconductor manufacturing. While Intel's server processor business has benefited from the shift to the cloud, the firm has also been expanding into new adjacencies as the personal computer market has declined. These include areas such as the Internet of Things, memory, artificial intelligence, and automotive. Intel has been active on the merger and acquisitions front, recently acquiring Altera, Mobileye, Nervana, Movidius, and Habana Labs in order to assist its efforts in non-PC arenas.
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