Intel forecasts 4th-quarter revenue above expectations

Intel has forecasted its fourth-quarter revenue above Wall Street estimates, expecting a healthy rebound in client orders for its chips as the PC market inventory buildup eases. The company predicts an adjusted current-quarter revenue of about $14.6 billion to $15.6 billion, compared to an estimate of $14.35 billion, and a fourth-quarter adjusted profit per share of about 44 cents, above the analysts' estimate of 32 cents.

Despite heavy manufacturing investments impacting the company's gross margin, Intel's CEO, Pat Gelsinger, revealed that the company has a fourth foundry customer for its advanced manufacturing process called "18A". However, the company's third-quarter report showed an 8% fall in revenue to $14.2 billion, with a 3% fall in the client segment to $7.9 billion and a 10% drop in its data center business to $3.8 billion.

Key takeaways

Intel has forecasted its fourth-quarter revenue above Wall Street estimates, expecting a healthy rebound in client orders for its chips as the PC market inventory buildup eases.
The company's shares rose by approximately 6% after the closing bell, following the announcement.
Intel's CEO, Pat Gelsinger, revealed that the company has a fourth foundry customer for its advanced manufacturing process called "18A", which it expects to close in the fourth quarter.
Despite heavy manufacturing investments impacting the company's gross margin, Intel reported adjusted profits of 41 cents per share in the third quarter, and a revenue of $14.2 billion.

Intel forecasts 4th-quarter revenue above expectations

Key takeaways

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