The shares of Intel Corp. they rose to close further in the final minutes of trading on Thursday after the chip maker unexpectedly posted quarterly results before the end of the trading session.
Intel INTC,
shares rallied to close at 6.5%, to $ 62.46 after releasing holiday sales and a prospect that exceeded expectations, and fell 2% in activity outside the schedule. The chip maker reported fourth-quarter net income of $ 5.86 billion, or $ 1.42 per share, compared to $ 6.991 million or $ 1.58 per share, during the prior year period. After adjusting for costs related to restructuring and acquisition, Intel reported earnings of $ 1.52 per share, fixed for a year.
Revenue fell to $ 19.98 million from 20.21 million in the previous quarter. Analysts surveyed by FactSet had estimated adjusted earnings of $ 1.11 per share on revenue of $ 17.53 million, while Intel had forecast adjusted earnings of $ 1.10 per share on revenue of approximately $ 17.4 billion of dollars.
Intel’s data center group posted a 16% drop in revenue to $ 6.1 billion, while analysts expected $ 5.488 billion. Intel’s largest segment: customer computing, the traditional PC group, rose 9% to $ 10.9 billion, with analysts expecting $ 9.577 billion.
Intel reported that revenue from non-volatile memory solutions fell 1% to $ 1.2 trillion, while Wall Street expected $ 1.08 billion. “Internet of Things” or IoT revenue decreased 16%, to $ 777 million, compared to the projected $ 764.2 million. Mobileye’s revenue rose 39 percent to $ 333 million, while the street was expecting $ 234.2 million.
For the first quarter, Intel forecast adjusted earnings of $ 17.5 billion and adjusted earnings of $ 1.10 per share. Analysts expect, on average, adjusted first-quarter earnings of 93 cents per share on revenue of $ 16.08 million.
“The demand for computing performance offered by Intel remains very strong and our focus on growth opportunities is bearing fruit,” Bob Swan, Intel’s outgoing chief executive, said in a statement.
Last week, Intel announced that Pat Gelsinger would return to the company to take over as CEO of Swan.
Over the past twelve months, Intel shares have gained 3%, while the Dow Jones Industrial Average DJIA,
– which has Intel as a component – increases by 7%, the S&P 500 SPX index,
increases by 16%, the composite index Nasdaq COMP
increases by 44% and the PHLX SOX Semiconductor index,
has increased by 64%.