Source: Pixabay | Photographer: Akela999
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Intel shares fell as much as 10% in extended trading on Thursday after the chipmaker reported fiscal third-quarter earnings that were stronger than expected, but also exposed the underwhelming performance of its data centre business.
Here are the main financial highlights from Intel’s Q3 2020 earnings release:
– Revenue: $18.33 billion versus expectations for $18.25 billion (4% decline year-over-year).
– Earnings per share: $1.11, meeting analysts’ expectations.
– Data Centre Group: Intel’s unit generated $5.91 billion in revenue (7% decline), which was significantly lower than the expected $6.21 billion.
– Client Computing Group: The chipmaker’s largest business generated $9.85 billion in revenue (1% increase year-over-year). In the quarter, PC shipments have increased by 3.6% as more people switched to working and studying from home.
– Other metrics: according to the company, revenue from enterprises and governments declined by 47% after two quarters of growth due to the effects of the coronavirus pandemic, while Q3 cloud revenue grew by 15%.
Overall, Intel’s revenue in the quarter has dipped by 4% year-over-year. In contrast, the company ended its previous quarter with a growth of 20%.
In July, executives commented that the U.S. chipmaker may need to switch manufacturers and begin relying on other companies to manufacture its chips. One such example is the Taiwanese TSMC. “I would say we feel very confident in the ability of us being able to port to TSMC,” commented CEO Robert Swan last week for CNBC.
Fiscal guidance for Q4 2020
With respect to guidance, Intel said it expects $1.10 in earnings per share on $17.4 billion in revenue in the fourth quarter. This revenue forecast implies a decline of about 14%. The company’s shares are down by about 20% since the beginning of 2020, with competing chipmaker AMD’s shares rising by 2% in extended trading shortly after Intel’s report.
Upcoming reports
See the full list of upcoming earnings reports for 26 – 30 October in the tables below.
Monday, October 26th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Beyond Meat Inc | Q3 2020 |
| Kingdom of the Netherlands | NXP Semiconductors NV | Q3 2020 |
| USA | National Oilwell Varco Inc | Q3 2020 |
Tuesday, October 27th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Aflac Inc | Q3 2020 |
| USA | CH Robinson Worldwide Inc | Q3 2020 |
| USA | FireEye Inc | Q3 2020 |
| USA | Akamai Technologies Inc | Q3 2020 |
| USA | Fiserv Inc | Q3 2020 |
| USA | Advanced Micro Devices Inc | Q3 2020 |
| USA | Edison International | Q3 2020 |
| USA | Microsoft Corp | Q1 2021 |
| Switzerland | Chubb Ltd | Q3 2020 |
| USA | O-I Glass Inc | Q3 2020 |
| USA | Merck & Co Inc | Q3 2020 |
| USA | Cummins Inc | Q3 2020 |
| USA | S&P Global Inc | Q3 2020 |
| USA | Pfizer Inc | Q3 2020 |
| USA | Franklin Resources Inc | Q4 2020 |
| USA | Eli Lilly and Co | Q3 2020 |
| USA | Xerox Holdings Corp | Q3 2020 |
| USA | Harley-Davidson Inc | Q3 2020 |
| USA | Corning Inc | Q3 2020 |
| USA | 3M Co | Q3 2020 |
| Italy | Davide Campari Milano NV | Q3 2020 |
| USA | Caterpillar Inc | Q3 2020 |
Wednesday, October 28th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Ford Motor Co | Q3 2020 |
| USA | Exelixis Inc | Q3 2020 |
| USA | eBay Inc | Q3 2020 |
| USA | Pinterest Inc | Q3 2020 |
| USA | Gilead Sciences Inc | Q3 2020 |
| USA | Visa Inc | Q4 2020 |
| USA | Sturm Ruger & Company Inc | Q3 2020 |
| USA | Equinix Inc | Q3 2020 |
| USA | Cerner Corp | Q3 2020 |
| USA | O'Reilly Automotive Inc | Q3 2020 |
| USA | Service Corporation International | Q3 2020 |
| USA | KLA Corp | Q1 2021 |
| USA | ETSY Inc | Q3 2020 |
| USA | GrubHub | Q3 2020 |
| USA | Western Digital Corp | Q1 2021 |
| USA | Amgen Inc | Q3 2020 |
| USA | Cognizant Technology Solutions Corp | Q3 2020 |
| Brazil | Petroleo Brasileiro SA Petrobras | Q3 2020 |
| Brazil | Banco Bradesco SA | Q3 2020 |
| USA | Bunge Ltd | Q3 2020 |
| Switzerland | Garmin Ltd | Q3 2020 |
| Canada | Celestica Inc | Q3 2020 |
| USA | CME Group Inc | Q3 2020 |
| USA | Automatic Data Processing Inc | Q1 2021 |
| USA | Entergy Corp | Q3 2020 |
| USA | Mastercard Inc | Q3 2020 |
| USA | Blackstone Group Inc | Q3 2020 |
| USA | General Dynamics Corp | Q3 2020 |
| USA | Norfolk Southern Corp | Q3 2020 |
| USA | Boston Scientific Corp | Q3 2020 |
| USA | Boeing Co | Q3 2020 |
| USA | Royal Caribbean Cruises Ltd | Q3 2020 |
| USA | General Electric Co | Q3 2020 |
| USA | Masco Corp | Q3 2020 |
| Kingdom of the Netherlands | Yandex NV | Q3 2020 |
| USA | ACADIA Pharmaceuticals Inc | Q3 2020 |
| USA | Vertex Pharmaceuticals Inc | Q3 2020 |
| USA | Anthem Inc | Q3 2020 |
| USA | Juniper Networks Inc | Q3 2020 |
Thursday, October 29th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Hartford Financial Services Group Inc | Q3 2020 |
| USA | Eastman Chemical Co | Q3 2020 |
| USA | Motorola Solutions Inc | Q3 2020 |
| USA | Twitter Inc | Q3 2020 |
| USA | Starbucks Corp | Q4 2020 |
| USA | Alphabet Inc | Q3 2020 |
| USA | Amazon.com Inc | Q3 2020 |
| USA | United States Steel Corp | Q3 2020 |
| USA | Illumina Inc | Q3 2020 |
| USA | Activision Blizzard Inc | Q3 2020 |
| USA | Floor & Decor Holdings Inc | Q3 2020 |
| USA | Devon Energy Corp | Q3 2020 |
| USA | Apple Inc | Q4 2020 |
| USA | Facebook Inc | Q3 2020 |
| USA | Baxter International Inc | Q3 2020 |
| USA | Dupont De Nemours Inc | Q3 2020 |
| USA | Brinks Co | Q3 2020 |
| Canada | Shopify Inc | Q3 2020 |
| USA | Gannett Co Inc | Q3 2020 |
| USA | ABIOMED Inc | Q2 2021 |
| USA | Moody's Corp | Q3 2020 |
| USA | Southern Co | Q3 2020 |
| USA | Comcast Corp | Q3 2020 |
| USA | Newmont Corporation | Q3 2020 |
| USA | International Paper Co | Q3 2020 |
| USA | Intercontinental Exchange Inc | Q3 2020 |
| USA | Exelon Corp | Q3 2020 |
| USA | Marsh & McLennan Companies Inc | Q3 2020 |
| Ireland | Aptiv PLC | Q3 2020 |
| Luxembourg | Spotify Technology SA | Q3 2020 |
| USA | Stericycle Inc | Q3 2020 |
| USA | Bio Rad Laboratories Inc | Q3 2020 |
Friday, October 30th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Altria Group Inc | Q3 2020 |
| USA | Honeywell International Inc | Q3 2020 |
| USA | Colgate-Palmolive Co | Q3 2020 |
| China | Alibaba Group Holding Ltd | Q2 2021 |
| USA | Broadridge Financial Solutions Inc | Q1 2021 |
| USA | Exxon Mobil Corp | Q3 2020 |
| USA | Chevron Corp | Q3 2020 |
| USA | Weyerhaeuser Co | Q3 2020 |
| USA | Under Armour Inc | Q3 2020 |
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