Intel’s new CEO and Q4 2020 Earnings: A Preview [Updated]

Against the backdrop of Intel’s (NASDAQ:INTC) newly announced CEO, the company is scheduled to announce Q4 earnings results on Thursday, January 21st, after market close.

Over the last 2 years, INTC has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time.
The company’s fourth-quarter performance is expected to have benefited from strength in its client computing business, courtesy of growing PC demand amid the coronavirus crisis-induced work-from-home wave. Analysts say key questions about Intel’s long-term strategy are unlikely to be answered ahead of the company’s new CEO transition next month.

Intel Appoints new CEO – Pat Gelsinger

In a Jan. 13 announcement about the upcoming departure of Intel CEO Bob Swan, the company said it expected to exceed its fourth-quarter 2020 guidance, which predicted revenue of $17.4 billion and non-GAAP EPS of $1.10. It also promised an update Jan. 21 on its progress in developing a 7-nanometer chip. Delays in releasing the new chip have weighed on Intel’s competitive position as rivals move ahead on 7-nm and smaller processors.