TECH - Intel Claims It's On Track To Catch Up By 2026 Despite A Lackluster Outlook | Benzinga
Intel Corporation (NASDAQ: INTC) fell short of revenue estimates, but topped earnings per share estimates with its first quarter financials. But, Intel remains confident of its ongoing revival and claims it is on track to catch up to its peers, including Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) and even the mightly AI chip leader Nvidia Corporation (NASDAQ: NVDA).
First Quarter Highlights
For the March quarter, Intel reported revenue rose 9% YoY to $12.7 billion, slightly below $12.78 billion that LSEG expected. Intel narrowed its net loss from last year’s comparable quarter when it lost $2.8 billion, or 66 cents per share to $400 million, or 9 cents per share. Adjusted earnings amounted to 18 cents, surpassing LSEG’s estimate of 14 cents.
This was Intel’s first report since revealing it had established its chip manufacturing ...