Intel Corporation Shares Drop 9% on Q2 Miss & Disappointing Outlook
<p><a href='https://financialmodelingprep.com/financial-summary/INTC'>Intel Corporation (NASDAQ:INTC)</a> shares were trading more than 9% lower Friday morning following the company’s reported Q2 results, with EPS coming in at $0.29, worse than the Street estimate of $0.70. Revenue dropped 17% year-over-year to $15.3 billion, compared to the Street estimate of $17.96 billion.</p>
<p>According to the analysts at Deutsche Bank, the primary drivers of the miss were not only well-understood macro/industry-wide issues, but also co-specific execution issues. Macro-related expectation “resets” have become increasingly common in the semi-sector, but in Intel’s case, the analysts doubt taking this action will be viewed as a clearing event, with many investors likely to question if this delay impairs the company’s transformation plan (IDM 2.0, etc.), despite management reiterating its long-term confidence.</p>
<p>The company anticipates Q3 EPS to be $0.35, compared to the Street estimate of $0.87, and revenue to be in the range of $15-16 billion, compared to the Street estimate of $18.62 billion.</p>
<p>For the full 2022 year, the company expects EPS to be $2.30, compared to the Street estimate of $3.42, and revenue to be in the range of $65-68 billion, compared to the Street estimate of $74.3 billion.</p>

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