Intel’s shares plummeted after the chip-making giant posted worse than expected sales for its data-center unit.

And while it raised its full-year revenue guidance, that for the last three months of 2020 was short of analysts’ forecasts.

For the three months to September, Intel reported a 28% drop in net income to reach $4.3bn or $1.02 per share.

In the comparable year earlier period the semiconductor manufacturer had clocked in with earnings per share of $1.35.

For 2020 as a while, Intel was now expecting adjusted EPS of $4.90 and revenues of $75.3bn, up from the $4.85 and $75bn it had previously guided towards.

Source: https://www.sharecast.com/news/international-companies/intel-shares-plummet-after-poor-q3-data-centre-sales–7687460.html

Intel, NASDAQ:INTC, Stock, Earnings, Data center

World news – GB – Intel shares plummet after poor Q3 data centre sales

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