Intel: PC Business Decline Offset By Other Businesses

Intel Corp. said its PC business was down in the first quarter, but it was offset by growth in data center, Internet of Things (IoT), and its memory businesses. Intel reported first-quarter earnings of 41 cents a share earlier Tuesday, and it guided for revenues of $13.2 billion in the second quarter, plus or minus $500 million. Analysts polled by FactSet had expected second-quarter sales around $13.5 billion. Shares of Intel rose 3% in after-hours trading after ending the regular session down 0.8%.