Intel results beat on demand for data center chips – Reuters Politics


(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.

FILE PHOTO: The Intel logo is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S., June 13, 2017. REUTERS/Mike Blake/File Photo

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



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