Intel Reports Q4 Earnings Beat
Intel Corporation (NASDAQ: INTC) surged ahead of Thursday's market close, as its fourth-quarter earnings report hit the wire earlier than expected.
What To Know: For the fourth quarter, Intel reported adjusted earnings of $1.52 per share, beating the Wall Street estimate of $1.10. Quarterly sales grew to $19.9 billion, beating the estimate of $17.5 billion.
Intel sees first-quarter adjusted EPS of $1.10 compared to the 93-cent estimate, on sales of $17.5 billion compared to the $16.06 billion estimate.
Why It's Important: In January 2020, Intel shares reached their highest point since the dot-com bubble. However, chipmakers such as Nvidia (NASDAQ: NVDA) and Advanced Micro Devices Inc. (NASDAQ: AMD) have become fierce competitors in the semiconductor space, with Nvidia surpassing Intel by market cap in mid-2020.
Intel closed the session up 6.4% at $62.46.
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