Intel Shares Fall 23% After Issuing Weaker Fourth-Quarter Guidance

Intel shares fell 23% after the chipmaker issued weaker fourth-quarter guidance, putting its near-term outlook in focus despite a stronger-than-expected third quarter for revenue and adjusted earnings. Intel posted $16.51 billion in revenue for the quarter ended Sept. 30, up 21% from a year earlier. Adjusted earnings were 52 cents per share. Both figures exceeded expectations of $16.44 billion in revenue and 39 cents per share. For the fourth quarter, Intel projects revenue of $15 billion to $16 billion and adjusted earnings of 25 cents per share.

Source: TokenPost