Shares of Intel fell after the report, as sales of chips for data centers were disappointing

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Shares of Intel fell after the report, as sales of chips for data centers were disappointing

27.04.2021 News

Shares of Intel fell 2.6% in non-trading time after the American chipmaker announced its results for the first quarter and gave a forecast for the whole of 2021.

The main figures of the Intel report

Intel reported earnings per share decline in the first quarter of 4% (compared to the same value in 2020) to $ 1.39, but it was $ 0.24 better than analysts’ estimate of $ 1.15.

Intel’s revenue also fell 6% from last year to $ 18.6 billion, but exceeded Wall Street’s average estimate of $ 17.86 billion.

Intel forecasts

The company’s management expects in the second quarter of 2021:

  • earnings per share of $ 1.05, which is a decrease of 17% compared to $ 1.23 in the second quarter of 2020 and lower than analysts’ forecast of $ 1.09;
  • Revenue, according to Intel, will also decline – by 11% to $ 17.8 billion, but it is above the average analytical forecast of $ 17.55 billion.

For the entire fiscal year 2021, Intel expects to receive:

  • profit of $ 4.60 – below last year’s value of $ 5.3, but higher than the forecast of $ 4.58;
  • revenue of $ 72.5 billion – although less than last year’s record 77.87 billion, it is also higher than analytical expectations of $ 72.2 billion.

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