Intel soars after beating big on earnings (INTC)

pulse

January 26, 2018 2:56 PM

It was the company's first earnings report since the Spectre and Meltdown flaws were reported.

Intel shares are up after the company reported a big top and bottom line beat for the fourth quarter.
It was the first earnings report since the Spectre and Meltdown flaws were reported.

Intel shares are rising after the company's earnings report, despite uncertainty around the recently disclosed Spectre and Meltdown security flaws.

The company is trading up 6.78% to $48.37 after reporting a top and bottom line beat for the fourth quarter. Intel reported adjusted earnings of $1.08 per share vs Wall Street estimates of $0.87 per share, and revenue of $17.1 billion vs. analysts' estimates of $16.34 billion.

The results were the first for the company after the disclosure of major security flaws known as Spectre and Meltdown. The flaws have rocked the tech world since Google engineers wrote a detailed description of the flaws on January 3. The vulnerabilities affect every major CPU maker, but Intel has taken the brunt of the impact as its chips are affected more than others.

The flaws are especially worrisome because they were built into Intel's hardware, making fixes to existing chips more challenging, but the company said it would begin shipping chips without the flaws later this year.

pulse