share_log

Market Mover | Intel Shares Down 7% Pre-market, Q2 Guidance Below Forecasts

moomoo News ·  Apr 26 06:02  · Movers

April 26, 2024 - $Intel (INTC.US)$ shares decreased 7.41% to $32.51 in pre-market trading on Friday. Intel Corporation recently reported the first quarter of 2024 financial results. In the first quarter of this year, Intel's revenue exceeded analyst expectations, but the guidance for the second quarter was below forecasts.

Highlights for Q1 2024 Financial Performance

Intel reported Q1 revenue of $12.7 billion, increased 9% year over year. Q1 GAAP earnings (loss) per share (EPS) attributable to Intel was $(0.09), while non-GAAP EPS attributable to Intel was $0.18.

The company also noted that it used $1.2 billion in cash from operations and paid dividends of $0.5 billion. A quarterly dividend of $0.125 per common share will be paid on June 1, 2024, to stockholders recorded as of May 7, 2024.

Guidance for the Q2 2024 Financial Results

Intel expects second-quarter 2024 revenue of $12.5 billion to $13.5 billion, and non-GAAP EPS of $0.10. Analysts tracked by FactSet had been modeling revenue of $13.6 billion and non-GAAP EPS of $0.25.

Source:

Intel Reports First-Quarter 2024 Financial Results

PowerPoint Presentation

Market Mover | Intel Shares Slump 7%, Earnings Forecast Fails to Clear Low Bar

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment