Intel Shares Fall 30% After Fourth-Quarter Outlook Misses Forecasts
Photo: TokenPost
Intel shares fell about 30% Friday to around $63.56 after the chipmaker issued a fourth-quarter outlook below forecasts, putting the stock on track for its steepest one-day decline since 1974. The drop followed Intel's third-quarter earnings release and put the next quarter's projections in focus. Intel expects adjusted earnings of 25 cents per share and revenue of $15 billion to $16 billion for the fourth quarter. Forecasts called for 43 cents per share and $17.1 billion in revenue.
Source: TokenPost
