Intel delivered quarterly earnings and revenue that surpassed analysts' expectations on Tuesday, as PC sales rose about 9 percent from a year ago. Shares rose modestly after the bell.
The tech firm posted third-quarter earnings of 66 cents per share, up 12 percent from 58 cents a share in the year-earlier period. Revenue increased by 8 percent to $14.55 billion from $13.48 billion a year ago. The company said it shipped more than 100 million microprocessors during the the period and repurchased $4.2 billion shares.
"We achieved our best-ever revenue and strong profits in the third quarter," Intel CEO Brian Krzanich said. "There is more to do, but our results give us confidence that we're successfully executing to our strategy of extending our products across a broad range of exciting new markets."
Analysts had expected Intel to post earnings of 65 cents a share on $14.45 billion in revenue, according to a consensus estimate from Thomson Reuters.