Intel (NASDAQ:INTC) earnings for the tech company’s fourth quarter of 2019 have INTC stock heading higher after-hours on Thursday. This is due to its adjusted per-share earnings of $1.52 on revenue of $20.21 billion. These are both above Wall Street’s estimates of $1.25 per share and revenue of $19.23 billion.
Now for a closer look at the most recent Intel earnings report.
- Adjusted EPS for the quarter is up 18.75% from $1.28 in the fourth quarter of 2018.
- Revenue comes in 8.31% higher than the $18.66 billion from the same period of the year prior.
- Operating income of $6.80 billion is a 9.33% increase YoY from $6.22 billion.
- The Intel earnings report also has net income coming in at $6.91 billion.
- That’s a 32.89% jump from the company’s net income of $5.20 billion during the same time last year.
Bob Swan, CEO of Intel, says this about the INTC stock earnings report.
“In 2019, we gained share in an expanded addressable market that demands more performance to process, move and store data. One year into our long-term financial plan, we have outperformed our revenue and EPS expectations. Looking ahead, we are investing to win the technology inflections of the future, play a bigger role in the success of our customers and increase shareholder returns.”
The Intel earnings report also includes its 2020 outlook. The company is looking for earnings per share of roughly $5.00 on revenue of about $73.50 billion. For comparison, Wall Street is estimating $4.68 per share and revenue of $72.25 billion.
INTC stock was up 6.74% after markets closed on Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.