Intel Beats Q3 Estimates With $0.52 EPS as Revenue Climbs 21%
INTC has more than doubled off its 52-week low of $32.89.
Summary
Intel delivered Q3 adjusted EPS of $0.52 against a $0.40 consensus, with revenue up 20.9% to $16.51 billion and reported net income of $3.32 billion. That is the fourth straight quarter of beats, and the estimate range topped out at $0.49, so the print cleared even the high end. The offset is the Q4 guide, which came in well below estimates on PC weakness and the Israel fab blast, and that is what drove the stock reaction. Shares are down 20.5% this quarter but still up 158.9% year to date, and the median analyst target of $110 sits above the last close. The setup is a strong quarter against a soft forward outlook — the Q4 numbers are the swing factor from here.
At the time of this announcement, INTC was trading at $72.54 on NASDAQ in the Technology sector, with a market capitalization of approximately $486.7B. The 52-week trading range was $32.89 to $142.35. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.