SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Intel Corp. (INTC) on Thursday reported a loss of $381 million in its first quarter.
The Santa Clara, California-based company said it had a loss of 9 cents per share. Earnings, adjusted for one-time gains and costs, came to 18 cents per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The world’s largest chipmaker posted revenue of $12.72 billion in the period, falling short of Street forecasts. Twelve analysts surveyed by Zacks expected $12.76 billion.
For the current quarter ending in June, Intel expects its per-share earnings to be 10 cents.
The company said it expects revenue in the range of $12.5 billion to $13.5 billion for the fiscal second quarter.
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