Intel delivered quarterly results that topped analysts' expectations on Tuesday.
The Santa Clara, California-based chipmaker posted third-quarter earnings of 64 cents per share on revenue of $14.47 billion. Analysts had expected the company to report earnings of 59 cents a share on $14.22 billion in revenue, according to a consensus estimate from Thomson Reuters.
Shares of Intel spiked as high as 1.8 percent before swinging into the red in extended hours. Stock moved back into positive territory as the market tried to digest the results.
"We executed well in the third quarter and delivered solid results in a challenging economic environment," said CEO Brian Krzanich in a press release. "The quarter demonstrates Intel innovation in action. Customers are excited about our new 6th Gen Intel Core processor, and we introduced our breakthrough 3D XPoint technology, the industry's first new memory category in more than two decades."