Posted 1/26/2024, 4:46:11 PM
Intel beats Q4 expectations but shares drop on weaker Q1 outlook
- Intel's Q4 results modestly beat expectations, but Q1 outlook disappointed investors
- Revenue was $15.4B, up 10% YoY, driven by 33.5% YoY growth in client computing group
- Data center revenue down 7% YoY due to customers shifting spending to AI accelerators
- Adjusted gross margin rose to 48.8% in Q4, but expected to fall to 44.5% in Q1
- Author(s) do not own Intel shares; article follows Morningstar editorial policies