Intel's stock plunged in after-hours trading Thursday after the company posted disappointing fourth-quarter results.
The chip-making giant's revenue and earnings both fell short of analysts' expectations. What's more, it predicts that its first-quarter earnings and earnings would not be below Wall Street's outlook, they would not even meet its year-earlier results.
In recent trading, the company's stock was down $ 4.01, or 8.1%, to $ 45.75 per share.
Here's what the company reported and how that compared to Wall Street's expectations:
- Q4 '18 revenue: $ 1
- Q4 '18 earnings per share: $ 1.12. Wall Street was looking for $ 1.17. In the same period a year earlier, Intel lost 15 cents a share, thanks to one-time tax charges.
- Q1 '19 revenue (guidance): $ 16 billion. Analysts had previously predicted $ 17.34 billion. The company saw $ 16.07 billion in the same quarter a year ago.
- Q1 '19 EPS (guidance): 81 cents. Wall Street had forecast 96 cents a share. In the first quarter of last year, it earned 93 cents and share.
- Full-year 2019 revenue (guidance): $ 71.5 billion. Analysts had forecast $ 73.01 billion. Intel saw $ 70.8 billion in sales in 2018.
- Full-year 2019 EPS (guidance): $ 4.35. Wall Street was also predicting $ 4.35 per share. In 2018, Intel earned $ 4.48 per share.
The report comes as Intel is still looking for a permanent CEO. The company's former head, Brian Krzanich, resigned in June after Intel discovered that he had a relationship with a company employee, in violation of his policies. Since Krzanich's resignation, Bob Swan, the company's chief financial officer, has served as his interim CEO.
Intel's stock closed regular trading up $ 1.82, or 3.8%, to $ 49.76.
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