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Illustration:Rebecca Zisser/Axios
Leading U.S. chipmaker Intel beat earnings estimates for the most recent quarter in results reported Thursday, but its stock plunged after hours after it revealed a gloomier outlook for the rest of the year and new delays in delivering its next-generation 7-nanometer chips.
Why it matters: This is the first quarter to reflect the full impact of the coronavirus pandemic on the U.S. and global economy.
Details:
- The company reported $1.23 per share in earnings, adjusted, vs. $1.11 per share that analysts expected, according to Refinitiv.
- Its revenue was $19.73 billion, vs. an analyst expectation of $18.55 billion, according to Refinitiv.