intel corp shares dropped in the extended session thursday after sales at the chip maker’s major businesses and its forecast for the current quarter came in below wall street expectations intel intc shares fell as much as 5 after hours following a 36 gain in the regular session to close at 4684 intel reported firstquarter net income of 811 billion or 198 a share compared with 336 billion or 82 cents a share in the yearago period after adjusting for acquisitionrelated expenses and other items intel reported earnings of 87 cents a share compared with 134 a share from a year ago revenue declined to 1836 billion from 1967 billion in the yearago quarter excluding the company’s divested memory business the company reported revenue of 186 billion in the yearago period analysts expected adjusted earnings of 78 cents a share on revenue of 1833 billion based on intel’s forecast of 80 cents a share and revenue of about 183 billion read why semiconductor stocks are ‘almost uninvestable’ despite record earnings amid a global shortage “with a 1 trillion market opportunity ahead of us we remain laserfocused on our idm 20 strategy” said intel chief executive pat gelsinger in a statement “we executed well against that strategy in q1 delivering key product and technology milestones and announcing plans to expand our manufacturing capacity in both the us and europe to meet the continued demand for semiconductors and drive a more balanced resilient global supply chain” revenue in the important datacenter category rose 22 to 6 billion but below the street’s estimate of 678 billion revenue from client computing the traditional pc group fell 13 to 93 billion below wall street’s estimate of 942 billion in the first quarter intel reported gross margins of 531 on a nongaap basis from 588 a year ago intel had forecast margins of 52 for the first quarter back in january read the end of onechip wonders why nvidia intel and amd’s valuations have experienced massive upheaval intel forecast secondquarter earnings of about 70 cents a share on revenue of about 18 billion and adjusted gross margins of 51 analysts on average expect adjusted secondquarter earnings of 80 cents a share on revenue of 1834 billion “intel delivered strong firstquarter financial results and we are reaffirming our fullyear revenue guidance” said chief financial officer david zinsner in a statement read the pandemic pc boom is over but its legacy will live on intel expects earnings of about 360 a share on revenue of about 76 billion while analysts forecast 337 a share on revenue of 7488 billion over the past 12 months intel stock has fallen 18 over the same period the dow jones industrial average djia which counts intel as a component has gained less than 1 the phlx semiconductor index sox has declined nearly 4 the sp 500 index spx has gained nearly 3 and the techheavy nasdaq composite index comp has fallen more than 8