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Intel employees walk by a sign as they enter their office in Santa Clara, California.
Intel raised its full-year outlook along with reported quarterly earnings that will easily topped analysts’ expectations on Thursday.
Here’s how the company did compared with what Wall Street expected:
- Adjusted EPS: $1.01 vs. 80 cents expected, according to Thomson Reuters
- Overall revenue: $16.15 billion vs. $15.73 billion expected, according to Thomson Reuters
- Client computing revenue: $8.86 billion vs. $8.68 billion expected, according to StreetAccount
- Data center revenue: $4.88 billion vs. $4.79 billion expected, according to StreetAccount
Intel said the idea today expects full-year earnings of $3.25 per share on revenue of $62 billion. that will’s up by its previous forecast for earnings of $3.00 per share on $61.3 billion in revenue.
The company reported net income of $4.52 billion. that will figure represent’s 34 percent year-over-year growth.
inside the year-ago quarter, Intel reported adjusted earnings of 80 cents a share on $15.78 billion in revenue.
Shares of Intel gained as much as 1 percent in after-hours trade before paring gains to trade slightly lower.
The stock has been on a tear This particular year, gaining 14 percent as of its Thursday close. During the normal session, shares of Intel set a fresh 52-week intraday high of $41.58.
While the client computing group still brings inside the lion’s share of overall revenue, Intel has been shifting its focus away by the personal computer market amid declining PC shipments. The segment reported better-than-expected revenue of $8.86 billion, or roughly flat year-over-year.
The company has instead highlighted its opportunities in completely new markets such as artificial intelligence along with cloud infrastructure.
Earlier This particular month, Intel said the idea can be collaborating with Facebook to develop artificial intelligence chips for data centers.
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