Intel has released its latest set of financials, covering its financial Q4 and FY 2020 accounting periods. Headlining revelations are: Intel recorded record full year revenue; the strength of PC sales, particularly laptops, helped Intel exceed its own expectations; and incoming CEO Gelsinger said that Intel 7nm was on track for the majority of products in 2023.
The latest results arrived rather dramatically. There were reports that the results had been hacked and released ahead of the closure of the stock markets yesterday in the US, so Intel published the results for all to analyse 15 minutes ahead of the markets closing, to help prevent any trader advantage. To be clear, these results statements are usually released 'after the bell'. The shares shot up by as much as 6.5 per cent in this short remainder of regular trading time. However, things have calmed after-hours, with the price moving down about 2 per cent.