Intel (INTC) To Report Earnings Tomorrow: Here Is What To Expect
Stock Story
Published Apr 24, 2024 03:04AM ET
Updated Apr 24, 2024 07:07AM ET
Intel (INTC) To Report Earnings Tomorrow: Here Is What To Expect
Computer processor maker Intel (NASDAQ:INTC) will be announcing earnings results tomorrow after the bell. Here's what to look for.
Last quarter Intel reported revenues of $15.41 billion, up 9.7% year on year, beating analyst revenue expectations by 1.5%. It was a very strong quarter for the company, with a significant improvement in its gross margin and an impressive beat of analysts' EPS estimates.
Is Intel buy or sell heading into the earnings? Find out by reading the original article on StockStory, it's free.
This quarter analysts are expecting Intel's revenue to grow 9.1% year on year to $12.78 billion, improving on the 36.2% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.14 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Intel's peers in the semiconductors segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. SMART's revenues decreased 26.7% year on year, missing analyst estimates by 0.1% and Texas Instruments (NASDAQ:TXN) reported revenue decline of 16.4% year on year, exceeding estimates by 1.4%. SMART traded down 10.5% on the results, and Texas Instruments was up 5.5%.
Read the full analysis of SMART's and Texas Instruments's results on StockStory.
There has been a stampede out of high valuation technology stocks and while some of the semiconductors stocks have fared somewhat better, they have not been spared, with share price declining 4.5% over the last month. Intel is down 18% during the same time, and is heading into the earnings with analyst price target of $45.2, compared to share price of $34.44.
Get The News You Want
Written By: Stock Story
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.