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Intel Earnings Beat Estimates. Why the Stock Is Falling.

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Intel stock fell in extended trading Thursday after the company missed sales expectations and said its chief financial officer plans to retire in May. The company also chalked a decline in its PC business to broader component shortages.

For the third quarter, Intel reported adjusted earnings of $1.71 a share and adjusted revenue of $18.1 billion. The earnings figure beat analyst estimates of $1.11 a share, but analysts were looking for revenue of $18.2 billion, according to FactSet.

Intel…


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