{"id":77614,"date":"2023-10-27T18:54:36","date_gmt":"2023-10-27T22:54:36","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/intel-reports-strong-earnings-the-foundry-strategy-is-taking-hold\/"},"modified":"2023-10-27T18:54:39","modified_gmt":"2023-10-27T22:54:39","slug":"intel-reports-strong-earnings-the-foundry-strategy-is-taking-hold","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=77614","title":{"rendered":"Intel Reports Strong Earnings. The Foundry Strategy Is Taking Hold."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n
<\/div>\n<\/figure><\/div>\n

Intel provided a better-than-expected revenue forecast for its December quarter, pushing its stock higher in late trading.<\/p>\n

But the more important news may be that the company is signing up more customers for its chip manufacturing services.<\/p>\n

\n

Intel reported third-quarter adjusted earnings per share of 41 cents, compared with Wall Street\u2019s consensus estimate of 22 cents, according to FactSet. Revenue came in at $14.2 billion which was above analysts\u2019 expectations of $13.6 billion. For the quarter, client PC unit revenue was materially ahead of expectations, while the data center segment was below analyst estimates.<\/p>\n

For the current quarter,
\n Intel
\n (ticker: INTC) gave a revenue forecast range of $14.6 billion to $15.6 billion. At the midpoint, that\u2019s above Wall Street\u2019s consensus of $14.4 billion.<\/p>\n

\u201cWe delivered a standout third quarter, underscored by across-the-board progress on our process and product roadmaps, agreements with new foundry customers, and momentum as we bring AI everywhere,\u201d Intel CEO Pat Gelsinger said in the earnings release.<\/p>\n

Intel shares were up more than 8% in late trading following the report.<\/p>\n

Intel has prioritized its Foundry Services unit as part of Gelsinger\u2019s efforts to turn around the chip maker. Intel hopes to provide chip makers with a domestic alternative to
\n Taiwan Semiconductor Manufacturing
\n (TSM).<\/p>\n

The company\u2019s CFO David Zinsner told Barron\u2019s<\/em> late Thursday that Intel signed up three customers for its Intel 18A process during the quarter. He noted the company is unlikely to name them, as the customers want to maintain confidentiality. Intel has said that its 18A chip manufacturing process will be industry leading in terms of performance in 2025.<\/p>\n

Zinsner said the company\u2019s client PC business saw broad-based strength as customers completed their inventory adjustments earlier this year. He said data center customers\u2019 inventory is starting to normalize as well.<\/p>\n

Multiple analysts asked Intel about its gross margin expectations during the company\u2019s conference call this evening. The company declined to provide a forecast, saying that it would offer guidance next year.<\/p>\n

<\/p>\n

<\/p>\n

\n CEO Pat Gelsinger talks about how the company is navigating changing geopolitics.
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

Write to Tae Kim at tae.kim@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Intel provided a better-than-expected revenue forecast for its December quarter, pushing its stock higher in late trading. But the more important news may be that the company is signing up more customers for its chip manufacturing services. Intel reported third-quarter adjusted earnings per share of 41 cents, compared with Wall Street\u2019s consensus estimate of 22 […]<\/p>\n","protected":false},"author":1,"featured_media":77051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-77614","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nIntel Reports Strong Earnings. The Foundry Strategy Is Taking Hold. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Intel provided a better-than-expected revenue forecast for its December quarter, pushing its stock higher in late trading. But the more important news may\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=77614\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Intel Reports Strong Earnings. The Foundry Strategy Is Taking Hold. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Intel provided a better-than-expected revenue forecast for its December quarter, pushing its stock higher in late trading. But the more important news may\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=77614\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-27T22:54:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-27T22:54:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1698327256_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=77614#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=77614\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Intel Reports Strong Earnings. The Foundry Strategy Is Taking Hold.\",\"datePublished\":\"2023-10-27T22:54:36+00:00\",\"dateModified\":\"2023-10-27T22:54:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=77614\"},\"wordCount\":361,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=77614#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=77614\",\"url\":\"https:\/\/ifintechworld.com\/?p=77614\",\"name\":\"Intel Reports Strong Earnings. The Foundry Strategy Is Taking Hold. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-10-27T22:54:36+00:00\",\"dateModified\":\"2023-10-27T22:54:39+00:00\",\"description\":\"Intel provided a better-than-expected revenue forecast for its December quarter, pushing its stock higher in late trading. But the more important news may\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=77614#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=77614\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=77614#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Intel Reports Strong Earnings. The Foundry Strategy Is Taking Hold.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Intel Reports Strong Earnings. The Foundry Strategy Is Taking Hold. | iFintechWorld","description":"Intel provided a better-than-expected revenue forecast for its December quarter, pushing its stock higher in late trading. But the more important news may","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=77614","og_locale":"en_US","og_type":"article","og_title":"Intel Reports Strong Earnings. The Foundry Strategy Is Taking Hold. | iFintechWorld","og_description":"Intel provided a better-than-expected revenue forecast for its December quarter, pushing its stock higher in late trading. But the more important news may","og_url":"https:\/\/ifintechworld.com\/?p=77614","og_site_name":"iFintechWorld","article_published_time":"2023-10-27T22:54:36+00:00","article_modified_time":"2023-10-27T22:54:39+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1698327256_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=77614#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=77614"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Intel Reports Strong Earnings. The Foundry Strategy Is Taking Hold.","datePublished":"2023-10-27T22:54:36+00:00","dateModified":"2023-10-27T22:54:39+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=77614"},"wordCount":361,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=77614#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=77614","url":"https:\/\/ifintechworld.com\/?p=77614","name":"Intel Reports Strong Earnings. The Foundry Strategy Is Taking Hold. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-10-27T22:54:36+00:00","dateModified":"2023-10-27T22:54:39+00:00","description":"Intel provided a better-than-expected revenue forecast for its December quarter, pushing its stock higher in late trading. But the more important news may","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=77614#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=77614"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=77614#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Intel Reports Strong Earnings. The Foundry Strategy Is Taking Hold."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/77614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=77614"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/77614\/revisions"}],"predecessor-version":[{"id":77615,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/77614\/revisions\/77615"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/77051"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=77614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=77614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=77614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}