Intel (INTC) Q1 2022 earnings release beats both EPS and revenue expectations
As it prepares to launch its Intel ARC line of gaming-focused hardware, Intel came in fairly strong on various stats in its Q1 2022 reporting.
Intel is rolling out a lot of major moves in 2022, including getting ready to compete with NVIDIA on the GPU market. The company is also securing its supply for semiconductor manufacturing. There are still a lot of plans Intel has announced that we’re waiting to see play out, but its initial strategies seem to be working in its fiscal 2022. Intel just reported its Q1 2022 earnings results and came up looking good on both revenue and earnings-per-share (EPS).
Intel shared its Q1 2022 earnings results in a press release on its investor relations website on April 28, 2022. Intel’s Q1 2022 revenue came in at $18.4 billion USD and its EPS landed at around $0.87 per share. Both of these beat expectations. Wall Street expected the company to land at $18.32 billion while it was expecting $0.80 per share in EPS. Even the whisper number on EPS was at $0.80. Intel didn’t put up a staggering beat against these expectations, but it did come out ahead in both areas. Even so, Intel’s guidance on the year is still in line with Wall Street expectations which are forecasting a total fiscal 2022 EPS of $3.60/share and $76 billion in revenue.
Despite wins in both revenue and EPS in its Q1 2022 earnings results, Intel couldn’t claim a win in the stock market in the after hours. The company’s stock took a downturn from a high of $46.91 to a low of $44.37 per share before starting to flip flop around the low. This is likely due in part to the fact that Intel’s quarter didn’t really blow expectations out the water. The company recently expanded its semiconductor fab facilities with a huge $3 billion USD upgrade to its Oregon factory. It’s also gearing up to launch an expanded lineup of Intel ARC GPUs later this year in both laptops and desktop PCs. Intel has further augmented its business by opening its chip fab to third-party clients, which worked out well for its overall revenue.
Even so, many of Intel’s biggest plans can still be considered irons in the fire. We have yet to see how Intel ARC will turn out and the expanded Oregon facility just began production. With that in mind, it could be said that future quarters at Intel will be more interesting. For now, though, that’s wrap on Q1 2022. Stay tuned for more financial reporting out of further tech companies right here at Shacknews.
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replyTJ Denzer posted a new article, Intel (INTC) Q1 2022 earnings release beats both EPS and revenue expectations
