Intel reports first-quarter earnings for 2019
Intel has released its first earnings report for 2019 - or its Q1FY2019 report, in other words. It shows that the chipmaker has not improved on its revenues from this time last year. Therefore, its year-on-year earnings can be regarded as flat for this financial quarter. The chip-maker's new revenue total is US$16.1 billion, or the same as in Q1FY2018.
As a result, its earnings per share are now at $0.87, or 6% less than that in Q1FY2018. Intel's net takings from this revenue was reported at $4 billion, or a year-on-year (YoY) decrease of half a billion dollars (11%). However, it is not all bad news for the blue team: its PC-related revenues have grown to $8.6 billion, or 4% more YoY.
Intel also now estimates that its Q2FY2019 revenues will also be reduced compared to Q1FY2019: they may be as low as $15.6 billion. In fact, the company has revised its whole-year earnings downwards compared to its original guidance issued in January 2019. This largely discouraging performance has also hit Intel's share price by about 10% at the latest count for today (April 26, 2019).