Intel expects revenue for the first quarter, higher than expected earnings as rivals eliminate market share

(Reuters) – Intel Corp forecasts first-quarter revenue and profits above Wall Street expectations Thursday, with sales expected to decline year-on-year as it loses share to rivals despite a pandemic-fueled boom in PC and chip demand by date center.

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

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

Reportage by Stephen Nellis in San Francisco and Ayanti Bera in Bengaluru; Editing by Sriraj Kalluvila