Intel Shares Plunge 17.5% Following Q3 Earnings and Guidance Miss
Intel (INTC) shares experienced a significant decline of 17.5% in extended trading following the release of its third-quarter financial results. The semiconductor manufacturer reported an adjusted earnings per share (EPS) of $0.52 for the quarter ending September 26, failing to meet Wall Street's consensus estimates. In addition to the earnings miss, Intel provided forward-looking guidance that fell short of analyst expectations. This combination of disappointing quarterly performance and weak future outlook has triggered a sharp sell-off in the company's stock as investors react to the missed benchmarks.
Tickers: $INTC
Topics: earnings report guidance miss semiconductors stock price plunge