Pat Gelsinger, CEO of Intel, speaks in Santa Monica, Calif., on March 9, 2017, in a photo taken when he was CEO of VMware.
Patrick T. Fallon | Bloomberg | Getty Images
Intel sales were essentially flat and profit dropped in the first quarter of 2021 in CEO Pat Gelsinger’s first earnings report at the helm.
Intel’s earnings per share were significantly higher than analyst estimates and the company’s own forecast, but Intel stock was down more than 3% in extended trading. Sales were also above analyst estimates.
Here’s how Intel did versus Refinitiv consensus estimates:
- Earnings per share (EPS): $1.39 vs $1.15 (adjusted) expected, down 1% year over year
- Revenue: $18.57 billion vs $17.90 billion…