Intel met first-quarter profit expectations but fell slightly short of revenue projections Tuesday, citing sluggishness in its personal computer business but strong growth in the data center segment.
The chipmaker posted earnings per share of 41 cents, compared to 38 cents per share a year earlier. Revenue came in at $12.78 billion, nearly flat from $12.76 billion.
"We had enough growth in the data center, Internet of Things and memory to actually keep the company flat," said Intel Chief Financial Officer Stacy Smith in an interview on CNBC's "Closing Bell."
Smith added that Intel projects the PC segment to be "more flat than a growth market" moving forward.
Intel shares were up 2 percent in extended trading. Click here to see what Intel shares are doing now.