Intel Corp INTC shares are trading lower in Thursday's after-hours session after the company reported financial results and reaffirmed guidance below analyst estimates.
Intel said its first-quarter revenue declined 7% year-over-year to $18.4 billion, which beat the $18.31 billion estimate. The company reported quarterly adjusted earnings of 87 cents per share, which beat the estimate of 80 cents per share, according to data from Benzinga Pro.
Intel said it expects second-quarter adjusted revenue of $18 billion, slightly lower than $18.38 billion estimate. It expects Full-year 2022 revenue of approximately $76 billion and adjusted earnings per share of $3.60.
INTC 52-Week Range: $43.62 - $58.63
The stock was down 3.95% in after-hours at $44.99 at press time.
Photo: Atomic Taco from Intel.
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