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Intel Israel Hands Out Hefty Bonuses Despite Underwhelming 4Q Results

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Intel Israel Hands Out Hefty Bonuses Despite Underwhelming 4Q Results

On Thursday, Intel’s stock dropped 5.4% after reporting revenues of $18.7 billion for the fourth quarter of 2018, that fell short of previous forecasts

Hagar Ravet  :  2019-01-27T14:04:16..

Despite Intel’s underwhelming fourth-quarter results, Intel Israel will hand out 3 salaries worth of bonuses to thousands of its employees, according to an anonymous tip sent to Calcalist and one person familiar with the matter who spoke to Calcalist on condition of anonymity.

On Thursday, Intel reported $18.7 billion in quarterly revenues, missing the $19.01 billion mark anticipated by analysts. The company also released its forecasts for 2019, predicting $16 billion in revenues and non-GAAP earnings per share of $0.87 for the first quarter, and $71.5 billion in revenues and non-GAAP earnings per share of $4.6 for the whole year. Intel’s stock dropped 5.4% to $47.04 per share by Thursday market close.

Intel currently employs about 12,000 people in Israel, around 1,000 of them employed by its Jerusalem-based automotive chip subsidiary Mobileye, acquired for $15.3 billion in 2017.

Intel Intel's offices in Petach Tikva, Israel. Photo: Reuters Intel

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