Intel Company INTC is scheduled to report third-quarter 2024 earnings on Oct. 31. The Zacks Consensus Estimate for revenues and loss is pegged at $13.01 billion and three cents per share, respectively. Earnings estimates for INTC have declined from 33 cents per share to 27 cents for 2024 and from $1.08 per share to $1.07 for 2025 over the previous 60 days.
Discover the most recent EPS estimates and surprises on Zacks Earnings Calendar.
INTC Estimate Pattern
Picture Supply: Zacks Funding Analysis
The main semiconductor producer delivered a four-quarter earnings shock of 19.1%, on common, beating estimates thrice. Within the final reported quarter, the corporate’s earnings shock was detrimental 80%.
Picture Supply: Zacks Funding Analysis
Our confirmed mannequin doesn’t predict an earnings beat for Intel for the third quarter. The mix of a optimistic Earnings ESP and a Zacks Rank #1 (Robust Purchase), 2 (Purchase) or 3 (Maintain) will increase the probabilities of an earnings beat. This isn’t the case right here. You may uncover the most effective shares to purchase or promote earlier than they’re reported with our Earnings ESP Filter.
Intel at present has an ESP of 0.00% with a Zacks Rank #4 (Promote).
You may see the whole checklist of at the moment’s Zacks #1 Rank shares right here.
Through the quarter, Intel collaborated with Worldwide Enterprise Machines Company IBM to deploy its Gaudi 3 AI accelerators as a service in IBM Cloud. With this, IBM grew to become the primary cloud service supplier to deploy Gaudi 3 throughout hybrid and on-premise environments. Geared toward providing improved visibility and management over the software program stack, simplifying workload and utility administration, the collaboration intends to assist prospects cost-effectively scale enterprise synthetic intelligence (AI) workloads whereas prioritizing efficiency, safety and resiliency.
As well as, Intel is scaling its AI footprint to edge units and PCs with its Core Extremely processors, supporting greater than 100 software program distributors and 300 AI fashions. The corporate launched Intel Core Extremely 200V collection processors that mark an immense development in x86 processor expertise, setting a brand new benchmark for graphics efficiency, improved safety and energy effectivity with unmatched AI computing capabilities. The state-of-the-art options will expedite the event and adoption of AI PCs, additional solidifying its place as a frontrunner within the AI revolution.
Through the quarter, Intel additionally prolonged its collaboration with Amazon Net Providers, Inc. (“AWS”’), a wholly-owned subsidiary of Amazon.com AMZN. The partnership entails co-investment by the businesses in customized chip designs below a multi-year, multi-billion-dollar framework. Beneath this expanded settlement, the semiconductor firm will develop an AI material chip for AWS, leveraging its most superior Intel 18A course of node. These are more likely to have generated incremental revenues within the quarter.
Nonetheless, China’s purported transfer to interchange U.S.-made chips with home alternate options might considerably have an effect on Intel because it derives a good portion of its revenues from the communist nation. The latest directive to part out international chips from key telecom networks by 2027 underscores Beijing’s accelerating efforts to cut back reliance on Western expertise amid escalating U.S.-China tensions.
As Washington tightens restrictions on high-tech exports to China, Beijing has intensified its push for self-sufficiency in crucial industries. This shift poses a twin problem for Intel, because it faces potential market restrictions and elevated competitors from home chipmakers. As well as, Intel is witnessing intensifying competitors within the server, storage and networking markets from its rivals like Superior Micro Gadgets, Inc. AMD and NVIDIA Company NVDA. These are more likely to have adversely impacted its backside line within the quarter.
