Explore the latest developments concerning Intel Q4 earnings.
Intel Q4 earnings surpass Wall Street expectations as CEO highlights AI demand
Intel (INTC) stock fell as much as 5% after the bell Thursday as its first quarter financial outlook fell short of Wall Street's expectations.
The chipmaker said it expects first quarter revenue of $12.2 billion, at the midpoint of its range and below the $12.6 billion projected by Wall Street analysts tracked by Bloomberg. Intel guided for earnings per share of $0 for the period, short of the estimated $0.08.
Meanwhile, Intel reported better-than-feared fourth quarter earnings and revenue as CEO Lip-Bu Tan nodded to rising AI demand for its chips called CPUs (central processing units).
Intel's earnings per share of $0.15 for the period were slightly above the previous year's $0.13 and ahead of the $0.09 projected, per Bloomberg data. The chipmaker's fourth quarter revenue of $13.7 billion marked a 4% decline from the year-ago period but was higher than the $13.4 billion expected.
Intel's stock jumps 11% to highest since early 2022 ahead of earnings
Wall Street is piling into Intel ahead of the chipmaker's quarterly earnings report scheduled for after the close on Thursday.
The stock jumped about 11% on Wednesday to its highest since January 2022, continuing a rally that lifted it 84% last year and bringing its gains over the past 12 months to 149%.
Much of the optimism is tied to strong sales of Intel's latest server chips, which analysts say are benefitting from rising spending on artificial intelligence infrastructure. KeyBanc analysts upgraded the stock to the equivalent of a buy earlier this month, suggesting that Intel is likely sold out of server CPUs for this year, meaning prices could be on the rise.
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