Intel (INTC) Earnings Beat Estimates with 20% Stock Surge
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowIntel (INTC) reported first-quarter earnings of 29 cents per share, exceeding expectations of 1 cent. Revenue reached $13.58 billion, surpassing the anticipated $12.42 billion, reflecting a 7.2% increase from the previous year. The data center business saw a significant revenue boost of 22%, totaling $5.1 billion. Despite the positive earnings, Intel recorded a net loss of $4.28 billion, widening from $887 million a year earlier. The company expects second-quarter revenue between $13.8 billion and $14.8 billion, outpacing analyst estimates.
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About Intel Corporation (INTC)
Intel is a foundational semiconductor company that designs and manufactures CPUs for PCs and servers and is investing to rebuild its chip-foundry business.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
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