Why Intel Didn't Really Beat the Street
Deconstructing Intel's income statement reveals that, far from being a blowout quarter, its March quarter was something of a stretch.
Intel (INTC) reported earnings Tuesday evening that were technically ahead of expectations, but the company’s first-quarter performance left something to be desired.
Leading up to the announcement of Intel's first-quarter results, the Street expected the company to produce earnings of $0.69 per share, excluding charges for the amortization of goodwill. On the surface, it appears that Intel’s first-quarter results easily beat those expectations. Earnings per share came in at $0.88 (again, excluding the amortization of goodwill).
Jeremy Lopez does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.