Company news: Intel (INTC) posts wider-than-anticipated quarterly loss

Intel (INTC) reported Q3 FY2024 loss of $0.46 per share (versus $0.41 per share in Q3 FY2023), much worse than analysts’ consensus estimate of ($0.02) per share.

The company’s quarterly revenues amounted to $13.300 bln (-6.3% y/y), beating analysts’ consensus estimate of $13.020 bln.

The company also issued guidance for Q4 FY2024, seeing EPS of $0.12 versus analysts’ consensus estimate of $0.08 and revenues of $13.3-$14.3 bln versus analysts’ consensus estimate of $13.66 bln.

INTC rose to $22.68 (+5.39%) in pre-market trading.