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Updated from 8:11 a.m. EDT
(At 4:10 p.m. EDT)
Intel Beats Estimates, Trades Lower
Chipmaker and Dow component Intel (INTC Quote) was the marquee name reporting earnings after Tuesday's close. The company notched a first-quarter profit of 11 cents a share on $7.14 billion in revenue. On average, analysts were expecting a profit of 3 cents a share on revenue of $6.99 billion, according to Thomson Reuters.
While those numbers were better than expected, Intel shares traded 4.5% lower in the after-hours session as the company said it would not provide a revenue outlook for the second quarter. Intel also said that gross margin percentage in the second quarter will be in the mid-40s. ...
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