Intel shares plummet after server warning
 

Things are not looking good in Chipzilla’s universe

Intel shares fell by ten percent after-hours trading after the chip company reported its third quarter results, which show it losing ground in the server and data centre market.

The cocaine nose jobs of Wall Street had predicted that Intel would report an adjusted $1.11 in per-share profit, which was down 22 percent from the year-ago period. They also expected it to report revenues of $18.26 billion in Q3, down a more modest five percent compared to the year-ago Q3.

While Intel did better than that making a $18.3 billion, and met earnings-per-share estimates of $1.11, on an adjusted basis the devil was in the detail.

Intel reported a weakness in the company data-focused business unit, the smaller of Intel's two halves - the other focuses on PC chips.

The data-side of Intel, its Data Centre Group (DCG) which should have been coining it in had mixed results. While it had cloud revenue growth of 15 percent DCG "Enterprise & Government" business shrank 47 percent compared to the year-ago period, following what Intel described as "two quarters of more than 30 percent growth".

https://fudzilla.com/news/51755-inte...server-warning