Intel ‘s earnings miss and weak guidance is “something special,” according to Bernstein senior analyst Stacy Rasgon. The company missed expectations of analysts polled by Refiitiv for both adjusted per-share earnings and revenue in the fourth quarter. Its revenue declined 32% year over year in the quarter. The company also offered guidance for first-quarter per-share earnings and revenue that was below Refinitiv’s respective consensus estimates. Intel is expecting an adjusted net loss of 15 cents per share on $10.5 billion to $11.5 billion in revenue, compared with Refinitiv’s expected 24-cent gain in per-share earnings on $13.93 billion in revenue. “I don’t really know what to say,” Rasgon said following the report on CNBC’s “Closing Bell: Overtime.” “I don’t think I’ve ever seen anything quite like this before. This is something special.” The stock tumbled more than 8% following the report. Intel’s earnings call is scheduled for 5 p.m. ET. Rasgon said the weak margins and forward guidance are most disappointing. He has an underperform rating on the stock.
