Computer processor maker Intel (NASDAQ:INTC) will be announcing earnings results tomorrow after the bell. Here's what to expect.
Last quarter Intel reported revenues of $12.9 billion, down 15.5% year on year, beating analyst revenue expectations by 6.69%. It was a solid quarter for the company, with a significant improvement in its inventory levels and an impressive beat of analysts' EPS estimates.
Is Intel buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Intel's revenue to decline 11.3% year on year to $13.6 billion, improvement on the 20.1% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.22 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Intel's peers in the semiconductors segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. SMART's revenues decreased 27.7% year on year, missing analyst estimates by 15.6% and Micron Technology (NASDAQ:MU) reported revenue decline of 39.6% year on year, exceeding estimates by 2.15%. SMART traded down 23.6% on the results, Micron Technology was down 4.45%.
Read the full analysis of SMART's and Micron Technology's results on StockStory.
The whole tech sector has been facing a sell-off since late last year and while some of the semiconductors stocks have fared somewhat better, they have not been spared, with share price declining 4.51% over the last month. Intel is up 1.68% during the same time, and is heading into the earnings with analysts' price target of $36.8, compared to share price of $34.39.
The author has no position in any of the stocks mentioned.
