Intel Shares Slide on Weak Sales Guidance, Q3 Earnings Miss
Shares of the tech giant were slipping after the company said fourth-quarter revenue may lag behind analyst expectations.
Intel (INTC) - Get Report shares were lower Wednesday after the tech giant said fourth-quarter revenue may lag behind analyst expectations. Intel also said it now expects to see quarterly sales of about $15.7 billion vs. consensus forecasts of $16.1 billion. Meanwhile, third-quarter sales of $15.78 billion clocked in slightly above analyst forecasts of $15.58 billion. Meanwhile earnings also surpassed expectations; earnings of $0.80 a share topped consensus estimates by seven cents. Intel's CEO Brian Krzanich noted that the company has made meaningful progress in developing new technologies that could boost future top-line growth.
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