Intel Earnings Crushed Estimates. Why Its Stock Is Dropping.
Shares of U.S. chip maker Intel slumped in in Friday premarket trading, despite reporting earnings that easily beat Wall Street’s expectations. The company sold more chips for personal computers, but investors seem focused on a dip in Intel’s ever-important data center revenue.Shares of Intel dropped 2.2% in premarket trading. The stock, which closed at $62.57 Thursday, is up about 40% since late October.Intel reported first-quarter net income of $3.4 billion, or 82 cents a share, compared with
Netflix Inc (NASDAQ: NFLX) shares fell as much as 11% in after-hours trading after the streaming giant reported a large miss in subscriber numbers in its first-quarter earnings report.