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Intel Corporation Message Board

  • man_of_troy_rules man_of_troy_rules Jan 9, 2013 12:46 AM Flag

    Intel Earnings Preview: Low Expectations

    Intel (INTC), the microprocessor giant, reports its fourth-quarter 2012 financial results on Thursday, Jan. 17 after the final trading bell. This is later than usual for Intel and on a different night for the semiconductor giant. Typically, Intel reports on the Tuesday night of the first full week of earnings.

    Per Thomson Reuters, analyst consensus is looking for $0.45 in earnings per share (EPS) on $13.766 billion in revenues for expected year-over-year declines of 30% in earnings and 1%, respectively. The stock was down 15% in 2012, excluding the dividend.

    The Q4 2012 gross margin guidance in the third-quarter earnings report just crushed the stock, as INTC management lowered the expected Q4 gross margin to 57%, from the third quarter's 63%. Even revenue guidance was lowered for Q4 2012, as the typical seasonal revenue growth is +7% for Q4 2012, but the Street was given a +4% guidance range to chew on.

    Since the October earnings report EPS estimates have been further reduced to the $0.45 from the $0.47 estimate we saw immediately after earnings, even as revenue estimates have actually ticked a little higher, from $13.618 to $13.766 in the last three months. (That likely means gross margin continues to get squeezed in the analyst models.)

    Readers don't need a re-hash of what has pushed Intel to such cheap levels:

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