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Intel: adjusted income up 54% in Q3

( - Intel has announced Q3 2021 adjusted revenue of 18.
1 billion dollars, up 5% y-o-y.

The company reported adjusted net income of 7 billion dollar, up 54% y-o-y. Meanwhile, adjusted EPS reached 1.71 dollar, up 59%.

For Q4, Intel expects adjusted revenue of 18.3 billion dollars and adjusted EPS of 0.9 dollar. For FY 2021, Intel targets adjusted revenue of 73.5 billion dollars and adjusted EPS of 5.28 dollars.

Pat Gelsinger, company CEO, said, "Q3 shone an even greater spotlight on the global demand for semiconductors, where Intel has the unique breadth and scale to lead".

However, after closing up 1% yesterday, the stock is being short-circuited in pre-market trading today, down 10% at noon.

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