Intel Provides Guidance
Following Intel Corporation’s (NASDAQ: INTC – $32.00) first quarter earnings release, the company also provided guidance for the second quarter and the full year. Management estimates that revenues during the June quarter are expected to be $13.5 billion, plus or minus $500 million, while the Street had been looking for stronger improvement, just north of $14.3 billion. Meantime full-year revenues are expected to increase in the mid-single digits, a slight pullback from the previous mid- to high-single-digit outlook. The less-than-stellar conditions in the personal computer market largely underpin the revised view. As a result of the recent guidance, the 2016 top- and bottom-line expectations now range closer to $57.655 billion and $2.35 a share, respectively. INTC shares moved 1.3% higher on the day despite the company’s mixed results indicating that investors believe that the company can eventually right itself and move more aggressively into programmable chips, cloud computing technology and mobile.
- Posted in: Stocks to Consider and Updates