5 Stocks That Beat Quarterly Expectations

2. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 66

Shares of Intel Corporation (NASDAQ:INTC) turned red in the pre-market trading session on Thursday, January 27, 2022, despite beating financial expectations for the fourth quarter. The chip giant earned $1.09 per share, down from $1.48 per share last year but above expectations of 90 cents per share.

In addition, Intel Corporation (NASDAQ:INTC) posted revenue of $20.53 billion, up 3 percent versus last year and above analysts’ average estimate of $18.33 billion. Revenue from Intel’s largest segment, the client computing group, fell seven percent on a year-over-year basis to $10.1 billion. On the bright side, revenue from the data center group jumped 20 percent to $7.3 billion.

Intel Corporation (NASDAQ:INTC) also issued its financial outlook for the first quarter. It expects adjusted earnings of around 80 cents per share on revenue of approx. $18.3 billion for the current quarter.

Commenting on the results, CEO of Intel Corporation (NASDAQ:INTC), Pat Gelsinger, said:

“Q4 represented a great finish to a great year. We exceeded top-line quarterly guidance by over $1 billion and delivered the best quarterly and full-year revenue in the company’s history. Our disciplined focus on execution across technology development, manufacturing, and our traditional and emerging businesses is reflected in our results.”