Intel Tumbles After Earnings & Revenue Miss, Cuts Outlook

Intel is trading down over 6% in the after-hours after missing earnings and revenues (below the lowest estimate) and slashing its Q1 earnings and revenue expectations.

Just how big a miss was Q4? Big...

  • 4Q revenue $18.66 billion, estimate $19.01 billion (range $18.77 billion to $19.28 billion)
  • 4Q earnings per share: $1.12, estimate $1.17.

And Q1 looks uglier:

  • Sees 1Q revenue about $16 billion, estimate $17.34 billion (range $16.37 billion to $18 billion)
  • Sees 1Q adjusted EPS about 87c, estimate $1.02 (range 89c to $1.13)

And the full year's revenue guidance was cut to $71 billion (from a prior estimate of $73 billion).

And the immediate reaction is not pretty...

(Click on image to enlarge)

The report comes as Intel is still searching for a permanent CEO. The company's former head, Brian Krzanich, resigned in June after Intel discovered that he'd had a relationship with a company employee, in violation of its policies. Since Krzanich's resignation, Bob Swan, the company's chief financial officer, has been serving as its interim CEO.

Trade seems to have been the scapegoat...

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