Intel posts $0.11 EPS on $7.1 Billion revenue, and $0.03 EPS consensus. Amusing tidbit from the press release, disclosing the tax rate for the quarter was just 1 percent, lower than the expectation of approximately 27 percent. No cash for Uncle Sam here. Assuming 27% tax rate, EPS would have been $0.08
Net income fell 55% QoQ, on a 26% drop in revenue. Additionally, the company did not provide a full guidance range for the second quarter in a row. The only relevant forward looking data point is that the company expects Q2 gross margin percentage to be in the "mid-40", which does not jive with expectations of "high 40s" margins.
Stock down 5% after hours.
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