Intel shares fall after slashing 2019 forecast
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The world's leading maker of x86 processors has announced its benefits for the first quarter and the news is somewhat pessimistic for 2019: Revenue expectations have been lowered for the rest of the year for Intel.
Intel expects a 3% contraction compared to 2018
In terms of the last quarter, Intel reported first-quarter earnings and revenues approximately online, although perhaps slightly below the expectations of many analysts.
- First-quarter earnings (adjusted) per share: 89 cents vs. $ 1.01 expected First-quarter earnings: $ 16.1 billion vs. $ 16.8 billion projected Prospects for 2019 are now down 3% year-over-year Prospects for the second quarter of 2010 drop 8% over the same period of the previous year
The semiconductor firm reported first-quarter revenue of $ 16.1 billion, almost unchanged year-over-year. Its data center business brought in $ 7.5 billion, while its PC-centric product lines accounted for $ 8.6 billion in revenue.
The company cited that average sales prices were affected by the high costs associated with its 10nm process ramp. According to Intel, its spending amounts to about 30% of total revenue (things like R&D and operating expenses), less than 32% a year ago.
The Intel CEO said the company is "taking a cautious view of the rest of the year. "
The company expects a 3% contraction from 2018 after forecasting $ 69 billion for the year, slightly below consensus estimates of $ 71 billion.
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