Intel forecasts fourth-quarter revenue above estimates, shares surge

Quick Summary:

Intel shares climbed more than 12 per cent in extended trading on Thursday after the chipmaker forecast current-quarter revenue above estimates and beat expectations for the third quarter.

Intel reported a massive net loss on Thursday, weighed down by impairment and restructuring charges.

However, Intel's share of the PC and server CPU market is consistently threatened by AMD, which now boasts a market valuation larger than that of Intel and is also the closest competitor to market leader Nvidia in AI graphics processors.

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Article Details

Category: EconomyBusiness

Markets: SingaporeTaiwan

Topics: Company Intel Reported Cent 2024 Estimates Billion Revenue Chips Market Quarter

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 04:01:40 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 480 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23355002

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 62 posts per day

Year Established: 1999

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News Last Updated: 35 minutes ago

Coverage Areas: Singapore

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