Intel Shares Fall Nearly 26% After Fourth-Quarter Profit Outlook Misses

Intel shares opened down nearly 26% Friday after the company forecast fourth-quarter non-GAAP earnings of $0.25 per share, below expectations and less than half its third-quarter result. Intel reported third-quarter revenue of $16.5 billion, a 21% increase from the same period a year earlier. Non-GAAP earnings were $0.52 per share, making the fourth-quarter forecast $0.27 lower, or about 52% below the reported result. The company projected a fourth-quarter gross margin of 38%, compared with 44.1% in the third quarter. That is a decrease of 6.1 percentage points between the reported quarter and the next quarter’s forecast.

Source: TokenPost