Intel Gains On Robust Quarterly Earnings, Upbeat Outlook
Shares of Intel Corp. climbed in Thursday's extended session after the chip maker posted better-than-expected quarterly earnings and raised its full-year guidance. Intel reported its second-quarter earnings more than doubled to $2.8 billion, or 58 cents a share, from $1.3 billion, or 27 cents a share, a year earlier. On an adjusted basis, the tech company would have earned 72 cents a share. Revenue grew 9% to $14.8 billion. Analysts surveyed by FactSet had forecast earnings of 68 cents on revenue of $14.4 billion. Intel also raised its full-year revenue outlook by $1.3 billion to $61.3 billion and adjusted earnings per share by 15 cents to $3. Analysts are predicting revenue of $60.22 billion and EPS of $2.86. Intel shares jumped more than 4% after hours.
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