(Reuters) – Intel Corp (INTC.O) beat revenue and profit expectations for the first quarter on Thursday, driven by higher demand for chips from data centers and personal computers.
Shares of the Santa Clara, California-based chipmaker rose 5.2 percent to $55.85 after the bell.
Intel has been focused on transforming itself from a supplier of personal computers to a maker of chips for growing data center business and newer areas such as driverless cars and artificial intelligence.
The company’s net income rose to $4.45 billion, or 93 cents per share, in the quarter ended March 31, from $2.96 billion, or 61 cents per share, a year earlier.
Net revenue rose to $16.07 billion from $14.80 billion.
Excluding items, the chipmaker earned 87 cents per share.
Analysts on average were expecting Intel to report a profit of 72 cents per share on a revenue of $15.08 billion, according to Thomson Reuters I/B/E/S.
Reporting by Sonam Rai in Bengaluru; Editing by Arun Koyyur