Intel set to report earnings after the bell

FAN Editor

Bob Swan, then-interim chief executive officer and chief financial officer of Intel Corp., reacts during the inauguration of the company’s research and development facility in Bengaluru, India, on November 15, 2018.

Samyukta Lakshmi | Bloomberg | Getty Images

Intel will announce third-quarter results after market close on Thursday.

Here are the numbers to watch:

  • Earnings: Excluding certain items, $1.24 per share as expected by analysts, according to Refinitiv.
  • Revenue: $18.05 billion as expected by analysts, according to Refinitiv.

The estimates show analysts think Intel’s revenue will be down year over year for the third consecutive quarter.

Both Gartner and IDC said that PC shipments increased in the third quarter. Meanwhile, spending from companies with large data centers, like Amazon and Microsoft, started to bounce back in the quarter, both of which could have boosted Intel’s sales, Matt Bryson of Wedbush Securities, who has the equivalent of a sell rating on Intel stock, told clients in a Tuesday note.

But Intel is dealing with issues cutting into shipments of 14-nanometer Intel chips, and the company has slashed prices as it continues to compete with AMD, Bryson wrote.

“From an intermediate to longer term perspective, we believe INTC’s continued misexecution, whether in shorting certain Xeon customers, or PC OEMs/ODMs, should give those clients another reason to look more closely at AMD,” he wrote.

Intel announced the second generation of Optane DC Persistent Memory in the third quarter and said that Apple had agreed to buy the majority of Intel’s smartphone modem business in a deal valued at $1 billion.

In terms of guidance, analysts polled by Refinitiv were expecting Intel to forecast $1.21 in earnings per share, excluding certain items, on $18.82 billion in revenue in the fourth quarter, which would amount to an annualized revenue gain of less than 1%.

Executives will discuss the results with analysts on a conference call at 5 p.m. Eastern time.

Intel stock is up 10% since the beginning of the year.

This is breaking news. Please check back for updates.

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