Why Intel Stock Plunged Today
Shares of Intel (NASDAQ: INTC) plummeted on Friday, following the release of its second-quarter earnings report and conference call. As of 3:20 p.m. EDT, Intel's stock was down more than 16%.
Intel's Q2 revenue climbed 20% year over year to $19.7 billion, driven by strong growth in its data-focused businesses. Its adjusted earnings per share, meanwhile, increased by 16% to $1.23. Both figures were above Wall Street's estimates. Analysts expected revenue and adjusted EPS of $18.5 billion and $1.11, respectively.
Intel stock plunged on Friday. Image source: Getty Images.
Source Fool.com
