Signage outdoors Intel headquarters in Santa Clara, California, on Monday, Jan. 30, 2023.
David Paul Morris | Bloomberg | Getty Pictures
Intel shares rose about 6% in after-hours buying and selling after the corporate reported third-quarter earnings on Thursday that beat expectations for revenue and gross sales, whilst total income declined.
Here is how Intel did versus LSEG (previously Refinitiv) consensus expectations for the quarter ended October 1:
- Earnings per share: 41 cents, adjusted, versus 22 cents anticipated
- Income: $14.16 billion, versus $13.53 billion anticipated
For the fourth quarter, Intel expects earnings of 23 cents per share, adjusted, on income of $14.6 billion and $15.6 billion, versus LSEG expectations of 32 cents per share on $14.31 billion in gross sales.
Intel posted GAAP internet earnings of $297 million, or 7 cents per share, versus internet earnings of $1.02 billion, or 25 cents per share in the identical quarter final 12 months.
Income fell 8% from $15.33 billion a 12 months in the past, the seventh consecutive quarter of declining gross sales.
Intel CFO David Zinsner mentioned in a press release that the corporate’s earnings per share benefited from thhe firm controlling bills. Intel mentioned it has 120,300 workers, down from 131,500 final 12 months.
Here is how Intel’s enterprise models carried out:
- Gross sales in Intel’s Consumer Computing group, together with laptop computer and PC processor shipments, had been down 3% to $7.9 billion.
- Intel’s Knowledge Heart and AI division, which affords server chips, noticed gross sales decline 10% to $3.8 billion.
- Mobileye, a publicly-traded Intel subsidiary for self-driving automobile components, was a shiny spot, rising 18% to $530 million in gross sales.
- Intel foundry companies, the corporate’s nascent chip manufacturing enterprise, stays a small enterprise with $311 million in income, but it surely grew practically 300% on an annual foundation.
- Intel’s community and edge division, which sells networking components, reported gross sales down 32% to $1.5 billion.
Earlier this month, Intel mentioned it will deal with its programmable chip unit as a standalone enterprise, and would search to checklist it on public markets within the coming years. It’s presently a part of Intel’s Knowledge Heart and AI group.
