Intel's (NASDAQ: INTC) stock jumped 11% on Oct. 28 after the chipmaker posted its third-quarter earnings report. Its revenue declined 20% year over year (and fell 15% on an adjusted basis, which excludes the ongoing divestment of its NAND business) to $15.3 billion, which matched analysts' expectations. Its adjusted earnings dropped 59% to $0.59 per share but still cleared the consensus forecast by $0.26.
For the full year, Intel expects its revenue to drop 19% to 20% (14% to 16% on an adjusted basis), compared to its prior forecast for 9% to 13% decline, as it faces "continued macroeconomic headwinds." It expects its adjusted EPS to decline 64%, compared to its previous forecast for a 58% decline.
Image source: Intel.
Source Fool.com