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

News

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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