Intel Shares Rise After Company Beats Estimates

Intel Corp. rose 1.3% late Thursday after the Santa Clara, Calif., technology company reported fourth-quarter earnings and sales above expectations. Intel said it earned $3.6 billion, or 73 cents a share, in the quarter, compared with $3.6 billion, or 74 cents a share, in the year-ago period. Adjusted for one-time items, Intel reported a net income of $3.9 billion, or 79 cents a share, compared with $3.7 billion, or 76 cents a share, a year ago. Revenue reached $16.4 billion in the quarter, up from $14.9 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 75 cents a share on sales of $15.75 billion. Intel said revenue from its client computing group rose 4% to $9.1 billion, whereas the FactSet analysts had forecast $8.6 billion.