Intel Corp. shares rallied in the extended session Thursday after the chipmaker’s quarterly earnings and 2018 outlook topped Wall Street views. Intel shares rose 4% to $47.10 after hours. The company reported a fourth-quarter loss of $687 million, or 15 cents a share, compared with net income of $3.87 billion, or 73 cents a share, in the year-ago period. Adjusted earnings, factoring out the $5.4 billion tax loss from recently passed U.S. tax overhaul legislation, were $1.08 a share. Revenue rose to $17.05 billion from $16.37 billion in the year-ago period. Analysts surveyed by FactSet had estimated 87 cents a share on revenue of $16.34 billion. Intel estimates adjusted earnings of 65 cents to 75 cents a share on revenue of $14.5 billion to $15.5 billion for the first quarter, and earnings of $3.37 to $3.73 a share on revenue of $64 billion to $66 billion for the year. Analysts expect earnings of 72 cents a share on revenue of $15.03 billion for the first quarter, and $3.27 a share on revenue of $63.86 billion for the year. Intel’s board also increased the annual dividend by 10% to $1.20 a share.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News