Intel Corp. Shares Rally After Earnings, Revenue Beat

Intel Corp. said Wednesday it earned $2.7 billion, or 55 cents a share, in the second quarter, compared with $2.8 billion, or 55 cents a share, a year ago. Revenue hit $13.2 billion, down from $13.8 billion a year ago. Analysts polled by FactSet had expected earnings of 50 cents a share on sales of $13.04 billion. Growth in data center, memory and "Internet of things" accounted for more than 70% of Intel's operating profit and helped offset a "challenging PC market," Intel CEO Brian Krzanich said in a statement. Production of Intel's Skylake processor will deliver "exciting new PC experiences" in the second half of the year, the company said. Shares of Intel rose as much as 8% after hours Wednesday after ending the regular session up 0.2%.