Intel's stock surged after Q3 results beat expectations and CEO rejected a potential split

From Nasdaq: 2024-11-01 19:14:08

Intel’s stock soared after reporting Q3 results that beat expectations, including a one-time impairment charge. Adjusted earnings per share were $0.17, surpassing the estimated $0.02 loss. Q3 revenue was $13.28 billion, higher than the expected $13.02 billion. Intel’s Q4 guidance predicts sales between $13.3 billion and $14.3 billion, with an adjusted gross margin of 39.5% and earnings per share of $0.12. CEO Pat Gelsinger plans to keep the company intact, rejecting a split of its chip design and fabrication businesses. The decision aims to boost competitive positioning and third-party fabrication profitability.



Read more at Nasdaq: Why Intel Stock Jumped Today