Intel Shares Drop More Than 16% on PC Market Slowdown Outlook

Intel shares fell more than 16% in after-hours trading after the company forecast that a slowdown in the PC market would last at least through the first half of 2027. The outlook accompanied a fourth-quarter revenue forecast below Intel’s third-quarter total. Intel reported third-quarter revenue of $16.5 billion, up 21% from a year earlier. Earnings per share were $0.60, while non-GAAP earnings per share were $0.52. For the fourth quarter, Intel projected revenue of $15 billion to $16 billion, earnings per share of $0.10 and non-GAAP earnings per share of $0.25.

Source: TokenPost