00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Intel shares plunged more than 20% in after-hours trading Thursday
00:07after the chipmaker issued a weak fourth-quarter forecast
00:10amid continued weakness in the global PC market, according to CNBC.
00:15Adjusted earnings came in at $0.52 per share, topping expectations of $0.40,
00:21while revenue of $16.51 billion narrowly exceeded estimates of $16.5 billion.
00:28Revenue rose 21% from $13.7 billion a year earlier.
00:34Intel's client computing and physical AI revenue fell 5% to $8.1 billion, missing estimates,
00:42while data center and AI revenue surged 78% to $7.3 billion.
00:48The semiconductor company forecast adjusted earnings of $0.25 per share
00:53on revenue of $15 billion to $16 billion for the current quarter,
00:58below analysts' expectations of $0.43 per share and $17.1 billion in revenue.
01:05The company also expects $600 million in lost revenue over two quarters
01:10following an explosion at its Israel chip plant.
01:13For all things money, visit Benzinga.com.
