Quarterly Earnings Report Anticipated

Intel Shares Plunge, Implying Significant Market Volatility

Quarterly Earnings Report Anticipated

Intel Corporation (INTC) shares have taken a significant hit, with a 5.2% decline on Thursday after experiencing their lowest point since May. This movement has been accompanied by an increase in market volatility, with options for INTC indicating a potential swing of approximately 8.7% in either direction by Friday.

Financial Performance Struggles

Over the past eight quarters, Intel's performance has faced challenges, with foundry operating losses expanding to $247 billion in the first quarter of 2024. Wall Street analysts predict that Intel's upcoming quarterly earnings announcement will reveal a decline in earnings on reduced revenues.

Earnings Expectations and Market Outlook

Analysts' expectations for Intel's quarterly earnings vary, with some projecting a loss per share of $0.10 and others estimating a gain of $0.13. Intel is expected to release its earnings report on August 1, 2024, after market close. Despite the recent drop in share value, analysts still anticipate a 9.2% increase in revenue compared to the same quarter last year, reaching approximately $12.8 billion.