Intel Corporation has announced its fourth-quarter earnings for 2024, reporting a notable profit that exceeds Wall Street expectations. The company achieved earnings of $0.21 per share, surpassing analysts’ predictions of $0.05 per share. Revenue for the quarter came in at $20.64 billion, topping estimates of $20.14 billion. The stock responded positively to this news, gaining approximately 5% in after-hours trading. Intel’s CEO, Pat Gelsinger, highlighted the success of its foundry business in a statement, saying, “The increase in our foundry revenue forecasts demonstrates the growing demand for our advanced manufacturing services.” However, despite the positive outlook for the foundry segment, Intel projected its first-quarter revenue for 2025 to be lower than analyst estimates. Specifically, Intel expects revenue between $18 billion and $19 billion, while analysts had predicted around $20.81 billion. This projection reflects ongoing challenges in the semiconductor market amid global chip supply chain issues. Gelsinger remarked, “We are navigating a complex market environment, but remain focused on our long-term strategies to enhance our product offerings and customer service.” Intel’s shares have seen a significant rally over the past few months, boosted by increased demand for semiconductor solutions across various sectors, including AI and cloud computing. With these strong results and future prospects, Intel continues to solidify its position in the tech industry.
Intel Reports Strong Q4 Earnings With Positive Foundry Revenue Outlook
