Intel Corporation faced a significant drop in its stock price after hours, falling 6% following a less-than-optimistic revenue forecast for the first quarter. The material draws attention to the fact that this decline comes despite the company exceeding expectations for its fourth-quarter earnings.
Intel Q4 Earnings Report
In its Q4 earnings report, Intel posted adjusted earnings of 15 cents per share, which was notably higher than Wall Street's forecast of 8 cents. The company also reported revenue of $13.7 billion, indicating a strong performance in the last quarter of the year.
Concerns Over First Quarter Outlook
However, the outlook for the first quarter has raised concerns among investors. Intel projected revenue between $11.7 billion and $12.7 billion, along with adjusted earnings per share (EPS) expected to break even. This guidance fell short of market expectations, prompting a swift sell-off in after-hours trading as investors reacted to the disappointing forecast.
Abbott Laboratories recently experienced a significant stock decline after its fourth-quarter earnings report, which, despite meeting expectations, fell short on revenue. This situation contrasts with Intel's recent performance, highlighting ongoing challenges in the market. For more details, see read more.
