Intel (INTC) topped third quarter earnings estimates while the tech giant's fourth quarter forecasts fell shy of expectations. The stock is plunging in Thursday's extended hours.
Market Domination Overtime Host Jake Conley and Yahoo Finance Markets and Data Editor Jared Blikre dive into Intel's latest earnings results.
00:00 Speaker A
Going through those numbers. Third quarter revenue coming in at $16.51 billion. The estimate was 16.54 billion. That is a slight miss there. Third quarter adjusted EPS. Where did we get those numbers here? Where do we have those numbers? Coming in at, third quarter adjusted EPS coming in at 52 cents. The estimate there was 41 cents. That is a healthy beat there.
00:26 Speaker A
Jared, what else are you seeing on Intel? What are we watching here?
00:30 Jared
All right, so Intel, looks like uh wow, Intel's down 17%. And by the way, Amazon was down about 13% last I checked. Um but uh Intel sees fourth quarter revenue of 15 to 16 billion. That's a big miss on the guide because the street was looking for 17 billion. A lot of times it's a guide that determines uh the the uh stock price here. And they're seeing fourth quarter rev uh we just did that. Data center and AI revenue for the third quarter, that's what already happened. That was a beat. That was 7.3 versus estimates of 6.7 billion. Uh we got foundry revenue at 6.7 billion. That's greater than the estimate of 6.1 billion. But let's get into some of those uh guidance numbers again. They're seeing fourth quarter adjusted growth gross margin at only 38%. Now the street was looking for almost 43%. So that's kind of a disappointment right there.