The world-renowned Intel firm announced its earnings reports for the fourth quarter of 2019 yesterday. Behind the announcement, the company’s shares rose up to 8% in transactions earlier today. With this mobility, the company drew a pink picture of the first quarter of 2020.
Intel shares seem to make managers laugh. After the firm announced earnings reports covering the fourth quarter and full year for Thursday 2019, its shares rose by 8% in early transactions on Friday. The company overhauled Wall Street expectations, gave a reasonable outlook for the first quarter earnings report of 2020, and added a 5% increase in its quarterly cash dividend.
Intel’s record revenue growth in the last quarter is said to be driven by the data center group, which grew 19% year on year due to the increasing demand in cloud service. The company’s PC-centric revenue also increased 2% year over year.
“We have exceeded our one-year revenue expectations in our long-term financial plan. When we look into the future, we are constantly investing to build the technology of the future, play a greater role in the success of our customers and increase the returns of our shareholders,” Intel’s CEO Bob Swan said in a press release. said.
2019 was a good year for Intel
Intel, the world’s largest semiconductor manufacturer based in the United States, announced that it purchased the artificial chip company Habana Labs for $ 2 billion in the fourth quarter of the year, and in the fourth quarter it also completed the sale of most of the smartphone modem business to Apple.
In the new year, the company forecasts revenue of $ 1.30 per share in the first quarter and $ 19 billion in total, higher than Wall Street analysts had expected. Intel also estimates that it will generate about $ 73.5 billion in earnings per share and higher than consensus estimates over 2020.
In a call to analysts on Thursday, CEO Swan added that he predicted the company’s data center business will undergo high-digit growth in 2020. We will watch and see how much of the big goals the company is talking about.