- Intel Corporation witnesses a significant slump in predicted earnings based on third-quarter reports from 2023.
- Intel's strategic moves in India under focus, following the meeting held between India’s IT Minister, Rajeev Chandrasekhar and Keyvan Esfarjani, the Global COO of Intel.
In recent years, the semiconductor manufacturing giant, Intel Corporation (NASDAQ: INTC), has been grappling with a stark financial downturn. Intel's Q3 financial results, released on October 26, 2023, depict a bleak picture with a significant fall in earnings since 2022.
Analysts projected Intel's earnings to be at 20 cents per share for Q3 of 2023, a startling plunge from 59 cents per share last year. The behemoth tech company was also forecasted to generate revenues of $12.74 billion, marking a notable drop from $15.25 billion of the same period last year.
The shrinking revenues and earnings aren't an isolated example of Intel’s financial turmoil but an adverse trend that has been persisting for a significant duration. At the close of Wednesday’s trading period, Intel's shares were pegged at a disconcerting $32.83, marking a sharp 5.1% decline.
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