2024-05-01 06:16:00 ET
Intel (NASDAQ: INTC) stock tumbled after its latest earnings report as the chipmaker once again took a step back with its turnaround plan.
While the company beat estimates on the top and bottom lines, revenue growth was modest at just 9% as the company faced easy comparisons with the quarter a year ago.
Even worse, investors were disappointed by Intel's outlook as it expects flat revenue growth in the second quarter and a decline in earnings that was well below the Wall Street consensus.
For further details see:
1 Wall Street Analyst Thinks Intel Is Going To $17. Is It a Sell?