Intel Tops Q1 Earnings but Falls Short in Guidance, Leaving Investors Uncertain

Intel, a leading chip manufacturing giant, has surpassed Wall Street’s expectations for the first quarter but given guidance below estimates for the current quarter. As a result, the company’s stock dropped in after-hours trading. Intel reported earnings of 18 cents per share on sales of $12.72 billion for the March quarter, beating analysts’ forecasted earnings of 14 cents per share on sales of $12.8 billion. In contrast, the same period last year, Intel had a loss of 4 cents per share on sales of $11.72 billion. The stock closed at 35.11 during regular trading hours but fell 7% to 32.65 in after-hours trading.

Following this pattern, other semiconductor companies also reported their first-quarter results. STMicroelectronics missed analyst estimates and gave low guidance for the current quarter due to a slowdown in automotive and industrial chip markets. Meanwhile, Mobileye Global delivered mixed Q1 results with guidance in line with full-year sales estimates ahead.

Intel’s stock ranks No. 16 out of 33 stocks in IBD’s semiconductor manufacturing industry group with a Composite Rating of 38 out of 99. Investors can access MarketSurge for research, charts, data, and coaching all in one place or view stocks on the list of leaders near a buy point to stay updated on consumer technology, software, and semiconductor stocks.

In conclusion, while Intel exceeded Wall Street’s expectations for the first quarter, it gave guidance below estimates for the current quarter due to various factors affecting its business operations. Other semiconductor companies also reported their Q1 results with mixed results and low guidance ahead due to market trends impacting their operations.

As investors continue to navigate consumer technology and semiconductor industries amid ongoing global economic challenges and technological advancements from competitors such as AMD and NVIDIA Corporation (NVDA), staying informed about market trends and industry developments is crucial to making informed investment decisions.

For more updates on consumer technology, software, and semiconductor stocks follow Patrick Seitz (@IBD_PSeitz) on Twitter or X (formerly Twitter).