Intel Reports Q3 EPS of $0.59 on Revenue of $15.3 Billion, vs CIQ Analyst Consensus of $0.33/Share on Revenue of $15.3 Billion

Price: 26.18, Change: -0.09, Percent Change: -0.34

Intel Guides For Q4 EPS of $0.20 on Revenue of $14-$15 Billion, vs CIQ Analyst Consensus of $0.68/Share on $16.4 Billion

Chipmaker Intel Corp on Thursday cut its 2022 revenue forecast for the second time this year as a slump in PC demand looks set to worsen and recession fears muddy the outlook for the data center market.

The company now expects annual revenue of about $63 billion to $64 billion, compared with $65 billion to $68 billion estimated earlier. Its original forecast was for about $76 billion.

Analysts on average expect annual revenue of $65.26 billion, according to Refinitiv data.