Intel (INTC.O) forecast fourth-quarter revenue and margins above Wall Street estimates on Thursday, optimistic about a healthy rebound in personal computer sales, improvement in its data center business, and a growing lineup of customers seeking its manufacturing services.
A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File photoforecast fourth-quarter revenue and margins above Wall Street estimates on Thursday, optimistic about a healthy rebound in personal computer sales, improvement in its data center business, and a growing lineup of customers seeking its manufacturing services.
Heavy manufacturing investments to support Gelsinger's turnaround plans have taken a toll on the company's gross margin, which shrank to the mid-30s in the second quarter from over 60% in 2020. The adjusted gross margin came to 45.8% in the third quarter, compared with estimates of 42.7% according to LSEG data.
He declined to say how many chips Intel will manufacture for those companies, but said the first has pre-paid and is "a very significant customer." "These wins are coups against TSMC," said Glenn O'Donnell, research director at Forrester, referring to Taiwan Semiconductor Manufacturing Co
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Intel Reports Strong Earnings. The Stock is Rising.Intel reported revenue of $14.2 billion, ahead of Wall Street's $13.6 billion estimate.
Read more »
Amazon's AI talk is making Wall Street drool, but there seems to be a catchAmazon’s AWS business is seeing ‘lumpy’ revenue, as companies find footing with AI
Read more »
Blackstone Investment Strategist Byron Wien Dies at 90The Wall Street prognosticator widely known for his annual Ten Surprises lists worked to the end
Read more »