Intel Corporation (NASDAQ: INTC) released fourth-quarter earnings report Thursday after the closing bell, reporting flat earnings and lower revenues. The results exceeded the market’s prediction.
As the market uncertainty continued to weigh on demand, revenues declined 1% from last year to $20 billion in the fourth quarter but came in above the consensus forecast.
At $1.52 per share, adjusted earnings were unchanged from last year. Net income was $5.9 billion or $1.42 per share, compared to $6.9 billion or $1.58 per share in the corresponding period of 2019. Earnings, however, beat the Street view.
Read management/analysts views on Intel’s Q4 report
The company’s stock maintained a steady uptrend throughout Thursday but dropped soon after the earnings release. The shares have gained 18% since the beginning of the year.