Intel slips after earnings miss

Intel Brian KrzanichIntelIntel CEO Brian Krzanich

Intel just reported its third quarter earnings after the bell on Tuesday.

It’s a miss on earnings but a beat on revenue. Investors aren’t too impressed and Intel’s stock is down 3.5% in after hours.

Here are the most important numbers:

  • EPS: $0.69 per share vs. $0.72 per share estimated
  • Revenue: $15.8 billion vs. $15.6 billion estimated (up 9% year-over-year)

Intel’s Client Computing Group, which includes its PC and mobile business, had revenue of $8.9 billion, up 5% year-over-year, while its data center business saw revenue of $4.5 billion, up 10% from a year-ago period.

Intel raised its revenue guidance to $15.6 billion last month, citing stronger demand for PCs.

This is also the first earnings report for new CFO Bob Swan, who was hired last month to replace Stacy Smith. Swan was previously a partner at General Atlantic and eBay. Smith is now overseeing the company’s sales, manufacturing and operations.

NOW WATCH: Former Navy SEAL Jesse Ventura says ‘American Sniper’ Chris Kyle shouldn’t be remembered as a hero

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.