Intel Reports Earnings and Revenue Surpassing Estimates, Shares Jump 3%
Intel issued disappointing quarterly guidance, but reported earnings and revenue that topped estimates, sending shares up 3% after hours. The company’s revenue declined for a third consecutive quarter, falling 7% from a year earlier, according to a statement.
In the fourth quarter, Intel reported adjusted earnings per share of 13 cents, surpassing the 12 cents expected by analysts. Revenue came in at $14.26 billion, beating estimates of $13.81 billion.
The chipmaker’s net loss for the quarter totaled $126 million, or 3 cents per share, compared with net income of $2.67 billion, or 63 cents per share, in the same quarter a year ago.
Intel appointed two interim co-CEOs, David Zinsner and Michelle Johnston Holthaus, following the departure of Pat Gelsinger. The company is still searching for a new CEO.
The company plans to focus on its Jaguar Shores product to address the AI data center more broadly, rather than its Falcon Shores artificial intelligence processor.
Intel reported breakeven profit for the first quarter, with revenue expected to range between $11.7 billion and $12.7 billion. The company cited seasonality, economic conditions, and competition as factors affecting its revenue.
The company’s Client Computing Group, which sells PC chips, generated $8.02 billion in revenue, down 9% year over year but above consensus. The Data Center and Artificial Intelligence segment generated $3.39 billion in revenue, down 3% but in line with consensus.
Intel’s Network and Edge unit contributed $1.62 billion in revenue, up 10% and above consensus. The company expects volume chip production based on its 18A process technology in the second half of 2025.
Intel also provided an update on its plans for Altera, its business that sells field-programmable gate array chips. The company said it is far along in the process of selling at least a minority stake in Altera and expects to announce a deal in the next quarter.