Intel news for Thursday includes INTC stock dropping after the release of an outlook update.
Intel (NASDAQ:INTC) provides a three-year plan in its earnings report for the first quarter of 2019. In this plan, the company notes that it is only expecting minor growth over the next three years. This includes it only expecting earnings per share and revenue growth in the single digit range.
It’s also worth noting that Intel doesn’t see itself as having an incredibly large market share for its chips in the next three years. It is only expecting a 28% market share, which is a far cry from its glory days when it dominated more than 90% of the market, reports Reuters.
The Intel news comes alongside its earnings report for the first quarter of the year. This has the company reporting earnings per share of 89 cents on revenue of $16.06 billion. Earnings per share and revenue from the same time last year were 87 cents and $16.07 billion. Wall Street was looking for earnings per share of 87 cents on revenue of $16.02 billion.
This most recent earnings report also includes the company’s guidance for the full year of 2019. It is expecting earnings per share to come in around $4.35 on revenue of roughly $69.00 billion. Wall Street is estimating earnings per share and revenue of $4.30 and $68.65 billion for the full year of 2019.
INTC stock was down 4% as of noon Thursday, but is up 4% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.