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Intel tops Q3 EPS, revenue estimates

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Intel posted a Q3 earnings report that topped Street estimates, reporting $1.11 EPS and $18.3B in revenue. This beat the Street estimated $1.10 EPS and revenue of $18.2B. Yahoo Finance’s Jared Blikre joins Th Final Round to discuss.

Video Transcript

SEANA SMITH: First, we need to get to some breaking news that we're getting here after hours. Intel is out with its result. And if you take a look at the stock price right now, shares under pressure here after hours, off just over 9%. Jared, what are the headlines?

JARED BLIKRE: Well, it was a beat on both their top and bottom lines. And they did issue some updated guidance, which seems to have beat expectations. But as you said, the shares are down about 9% in aftermarket trading here.

We still have to get on the call, but I suspect some of it might have to do with I'm not seeing anything regarding projection for their 7 nanometer. That's basically the distance of the chip set here. And it's a particular technology that they've really fallen behind on in their race with AMD.

And if you remember their last earnings report, that was a huge point of contention for the market. And that's when we saw the shares really drop off. But just to the numbers here, so third quarter revenue came in at $18.3 billion. That's down 4.6% year over year. But it's better than estimates slightly, which were $18.22 billion.

And then third quarter adjusted EPS, that came in at $1.11 versus $1.42 a year ago, but just slightly better, better by a penny than the estimates, which were $1.10. So their guidance coming in now, the full year revenue projection is $75.3 billion. Previously, they saw $75 billion. And the estimates were for just a fraction more, 75.1. So a little bit stronger there than expected.

They're seeing fourth quarter revenue, about $17.4 billion. Estimate is for $17.35 billion. And some of the data center sales, they fell 10%. PC centric revenue is up 1%. There were concerns about the data center and some expected weakness there. It might be a little bit more than expected.

And they're now seeing to ship 30% higher 10 nanometer product volumes in 2020. But again, no color on the 7 nanometer chipset. And so that may be what the market is concerned with. I'm going to continue to pore through these earnings reports right now.

SEANA SMITH: Certainly under pressure here after hours, with that stock off just around 9%. So certainly a name to keep an eye on as we lead up to tomorrow's opening bell.