Intel’s Earnings Beat Estimates, Profit Slips Though
Shares of Intel Corp headed back to its trading range after vacillating widely in after-hours trading following the company’s fourth-quarter earnings announcement.
Overall for the fourth quarter, the Santa Clara, Calif., chip giant reported earnings of 73 cents a share, or 79 cents on an adjusted basis, on revenue of $16.37 billion. Analysts expected an average of 74 cents a share in adjusted earnings on $15.75 billion revenue.
However, Intel Corp.’s fourth-quarter profit slipped 1.4% in the quarter as the company logged higher research and developments costs, along with $100 million in restructuring and other charges.
Chief Executive Brian Krzanich said Intel is banking on arenas beyond its traditional stronghold, the market for PCs, such as data storage products using a high-performance memory technology known as 3D XPoint and chips that outfit a wide range of products, especially cars.
Buy Stop at 37.60, Take profit 38.60, Stop loss at 37.10