Company news: Intel (INTC) posts mixed quarterly results

Intel (INTC) reported Q1 FY2024 earnings of $0.18 per share (versus $(0.04) per share in Q1 FY2023), beating analysts’ consensus estimate of $0.14 per share.

The company’s quarterly revenues amounted to $12.724 bln (+8.6% y/y), missing analysts’ consensus estimate of $12.799 bln.

The company issued downside guidance for Q2 FY2024, seeing EPS of $0.10 versus analysts’ consensus estimate of $0.25 and revenues of $12.50-13.50 bln versus analysts’ consensus estimate of $13.61 bln.

Intel also said it expects to deliver y/y revenue and EPS growth in FY2024.

INTC fell to $32.29 (-8.03%) in pre-market trading.

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