Intel Sets Precedent For No Guidance In Tech (NASDAQ: INTC)

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By Douglas A. McIntyre Updated Published
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Intel_logo_2Intel Corporation (NASDAQ: INTC) just posted earnings of $0.04 in non-GAAP EPS and $8.23 billion inrevenue.  Thomson Reuters (First Call) had estimates at $0.04 non-GAAPEPS and $8.21 billion in revenue.  The company had warned recently that sales would be roughly $8.2 billion. What is more important is itsdiscussion ahead.

The company is saying that the economy and industry are in theprocess of resetting to a new baseline that will mark where growthresumes.  In short, declines are continuing or at least the days of oldgrowth are behind it for now.

As we expected, no formal guidance was offered.  But it did notethat it is planning for roughly $7 billion in quarterly revenue.  Itnow sees margins declining into the low forty-percent range.  Nextquarter consensus estimates are $0.12 non-GAAP EPS on $7.28 billion inrevenue.

Shares closed up 1.6% at $13.29 in regular trading and the initialreaction in after-hours trading has shares essentially unchanged.

Jon C. Ogg
January 15, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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