Intel forecasts first-quarter revenue, profit above estimates as rivals chip away share

Intel Corp on Thursday forecast first-quarter revenue and profit above Wall Street expectations, with sales expected to decline on a yearly basis as it loses share to rivals despite a pandemic-fueled boom in PC and data center chip demand.

The chipmaker said it expects adjusted sales of $17.5 billion and adjusted earnings per share of $1.10, compared with analysts' average estimates of $16.06 billion and 93 cents per share, according to IBES data from Refinitiv.

The company reported fourth-quarter revenue of $20 billion, beating estimates of $17.5 billion.

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