SANTA CLARA, Calif. (AP) 鈥� SANTA CLARA, Calif. (AP) 鈥� Intel Corp. (INTC) on Thursday reported a loss of $3.73 billion in its first quarter.
The Santa Clara, California-based company said it had a loss of 73 cents per share. Earnings, adjusted for restructuring costs and stock option expense, came to 29 cents per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The world’s largest chipmaker posted revenue of $13.58 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $12.33 billion.
For the current quarter ending in June, Intel expects its per-share earnings to be 20 cents.
The company said it expects revenue in the range of $13.8 billion to $14.8 billion for the fiscal second quarter.
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