Intel Stock Falls 6% After Rare Q4 Revenue Miss
Intel experiences an unusual revenue miss in its fourth-quarter earnings, causing shares to drop six percent. The chipmaker also issues weak first-quarter guidance amid broader industry uncertainties.
Intel shares drop six percent in after-hours trading following a rare revenue miss in its fourth-quarter earnings report. The chipmaker reports a Non-GAAP EPS of $1.28 on revenue of $18.66 billion, falling short of Wall Street expectations of $19.01 billion. Additionally, Intel projects first-quarter revenue of just $16 billion, sharply contrasting analyst estimates of $17.4 billion.
Despite the overall miss, Intel sees healthy gains across most divisions, with its PC-centric business growing ten percent year-over-year to $9.8 billion and its data-centric businesses rising seven percent to $6.1 billion. The only exception is the Internet of Things Group, which suffers a seven percent decline in revenue. Like other semiconductor companies, Intel faces growing uncertainties tied to a slowing Chinese economy and potential trade war impacts.
The company also continues to operate without a permanent CEO following Brian Krzanich's resignation in June. CFO Bob Swan serves as interim CEO, but the firm provides few updates on the ongoing search during its earnings call. Intel's stock price remains relatively flat compared to twelve months ago, closing near the middle of its 52-week range as it navigates these leadership and market challenges.