Investing.com - Intel soared in after-hours trade Thursday after reporting third-quarter earnings and revenue that beat analyst's expectations, while fourth-quarter guidance also topped consensus estimates.
Intel (NASDAQ:INTC) reported earnings per share of $1.40 on revenue of $19.16 billion. Analysts polled by Investing.com forecast EPS of $1.15 on revenue of $18.13 billion. That compared to EPS of $1.08 on revenue of $14.76 billion in the same period a year earlier. For the fourth quarter, Intel expected earnings of $1.22 as share on revenue of about $19 billion, beating analysts estimates for earnings of $1.09 a share on revenue of $18.39 billion.
The company raised its guidance for the full-year to $4.53 in earnings a share on revenue of $71.2 billion, above Wall Street estimates for earnings of $4.16 a share on revenue of $69.54 billion. This was above the prior guidance of $4.15 a share on revenue of $69.5 billion.
The upbeat outlook on future growth comes as Intel's biggest business segment, the Client Computing Group, posted $10.23 billion in revenue in the second quarter, above FactSet analyst consensus of $9.33 billion.
Intel shares gained 3.5% in after-hours trade following the report.
For the year, Intel shares are down 4.46%, underperforming the Nasdaq 100, which is up 9.09% year to date.