Intel Shares Slide After First-quarter Earnings Release
Shares of Intel Corp. fell in Thursday's extended session after the chip maker announced quarterly earnings. Intel reported its first-quarter earnings rose to $3 billion, or 61 cents a share, from $2 billion, or 42 cents a share, a year earlier. On an adjusted basis, the tech giant would have earned 66 cents a share. Revenue grew 7% to $14.8 billion. Analysts surveyed by FactSet had forecast earnings of 65 cents a share on revenue of $14.81 billion. The company projected second-quarter revenue of $14.4 billion, plus or minus $500 million and adjusted earnings per share of 68 cents, slightly above Wall Street's earnings expectation. For the full year, Intel sees revenue of $60 billion and adjusted EPS of $2.85. Shares declined 3.2% after hours.
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