Investing.com-- Intel Corporation (NASDAQ:INTC) reported fourth-quarter earnings that surpassed analyst expectations, but its weak outlook for the first quarter of 2025 sent shares down 1% in after-hours trading.
The chipmaker posted adjusted earnings per share of $0.13, edging past the analyst estimate of $0.12. Revenue for the quarter came in at $14.26 billion, beating the consensus estimate of $13.83 billion but declining 7% YoY. For the full year 2024, Intel reported revenue of $53.1 billion, down 2% YoY.
Despite the earnings beat, Intel's guidance for the first quarter of 2025 fell short of expectations. The company forecasts revenue between $11.7 billion and $12.7 billion, below the analyst consensus of $12.86 billion. Intel also expects EPS to range from -$0.27 to $0.00, compared to the $0.09 analysts were anticipating.
Michelle Johnston Holthaus, interim co-CEO of Intel and CEO of Intel Products, commented on the results: "The fourth quarter was a positive step forward as we delivered revenue, gross margin and EPS above our guidance. Our renewed focus on strengthening and simplifying our product portfolio, combined with continued progress on our process roadmap, is positioning us to better serve the needs of our customers."
The company attributed its weak Q1 outlook to seasonal weakness, macroeconomic uncertainties, ongoing inventory adjustments, and competitive pressures.
Intel's management emphasized their focus on cost reduction and improving efficiency to enhance profitability and shareholder value.
This content was originally published on Investing.com
