Why Intel Shares Are Getting Hammered

Why Intel Shares Are Getting Hammered

Intel Corporation INTC shares are trading lower after the company reported worse-than-expected fourth-quarter results and issued soft guidance. The company also reported a drop in datacenter and AI group revenue.

What Happened With Intel Thursday?

Intel said fourth-quarter revenue fell 32% year-over-year to $14 billion, below analyst estimates of $14.49 billion, according to Benzinga Pro. Full-year revenue was $63.1 billion, down 20% year-over year. The company said it prioritized rationalizing its investments and “right-sizing” the organization over the fourth quarter.

The company reported a loss of 16 cents per share in the fourth quarter, missing analyst estimates of 20 cents per share. Intel said full-year EPS was $1.94...Read More

According to data from Benzinga Pro, Intel Corporation has a 52-week high of $54.08 and a 52-week low of $24.59.

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