As a seasoned tech investor with memories of the Intel (INTC) glory days still fresh in my mind, I must admit that today’s Q3 2024 earnings report leaves me feeling like a rollercoaster ride. On one hand, I’m thrilled to see Intel beat revenue expectations, reminiscent of the old times when they ruled the roost. However, the massive miss on EPS estimates has left me scratching my head and wondering if those good old days are truly behind us.
For this quarter ending in 2024 Q3, Intel (INTC) has shared its financial report, disclosing data from their recent period. The financial performance was a blend of successes and setbacks, with Intel surpassing revenue projections but falling significantly short on the EPS (Earnings Per Share) forecast.
As a dedicated Intel enthusiast, I’m thrilled to share that today, Intel unveiled its Q3 2024 earnings report after market close. To my delight, the tech giant surpassed expectations by reporting $13.28 billion in revenue, a significant leap from the anticipated $13 billion.
According to Pat Gelsinger, Intel’s CEO, our Q3 performance highlights the significant strides we’ve made in line with the strategy we presented previously to cut costs, streamline our offerings, and enhance organizational effectiveness. We surpassed the upper limit of our projected revenue, and we are acting promptly to reposition the company for continued value generation in the future.
Following the close of regular trading, Intel’s (INTC) stock experienced an uptick in after-hours activity. The share price reached a peak of $24.39, significantly above its closing price of $21.52. Furthermore, Intel is projecting a more substantial profit than anticipated for Q4 2024.
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2024-11-01 00:28