INSUBCONTINENT EXCLUSIVE:
Intel shares are down 6 percent after-hours after the company announced a rare revenue miss in its Q4 earnings report and
lower-than-expected Q1 guidance
The company reported a Non-GAAP EPS of $1.28 on revenue of $18.66 billion (up 9 percent year-over-year)
Wall Street was expecting an EPS of $1.22 on revenue of $19.01 billion.
The company projected that it would haul in $16 billion in revenue
in the next quarter, sharply contrasting analyst expectations of $17.4 billion.
Intel PC-centric business grew 10 percent YoY to $9.8
billion while its data-centric businesses were up 7 percent YoY, to $6.1 billion in revenue
The company saw healthy gains across divisions, with the exception being a 7 percent year-over-year decline in its Internet of Things Group
revenues.
Semiconductor companies are facing a lot of the same uncertainties as concerns grow that a slowing Chinese economy and possible
trade war could compound longer-tail factors facing chipmakers
As competition has heated up in the semiconductor space, Intel has been very public about its efforts to diversify with more data-focused
efforts in cloud, AI, 5G and IoT.
The firm share price is relatively unchanged from 12 months prior
Intel closed Thursday at $49.76, near the center of its 52-week range of $42.04 to $57.60.
The company is also facing management questions
as it been without a permanent CEOsince Brian Krzanich resigned this past June
CFO Bob Swan has been serving as Intel interim CEO since that announcement, but few updates have been given regarding the company ongoing
On its Q4 earnings call, the company shared that they are still in the midst of a CEO search.
We&ll have more updates as we listen to the
investor call this afternoon.
