Intel raised its full-year outlook and reported quarterly earnings that easily topped analysts' expectations on Thursday.
Here's how the company did compared with what Wall Street expected:
- Adjusted EPS: $1.01 vs. 80 cents expected, according to Thomson Reuters
- Overall revenue: $16.15 billion vs. $15.73 billion expected, according to Thomson Reuters
- Client computing revenue: $8.86 billion vs. $8.68 billion expected, according to StreetAccount
- Data center revenue: $4.88 billion vs. $4.79 billion expected, according to StreetAccount
Intel said it now expects full-year earnings of $3.25 per share on revenue of $62 billion. That's up from its previous forecast for earnings of $3.00 per share on $61.3 billion in revenue.
The company reported net income of $4.52 billion. That figure represent's 34 percent year-over-year growth.
In the year-ago quarter, Intel reported adjusted earnings of 80 cents a share on $15.78 billion in revenue.
Shares of Intel gained more than 1 percent in after-hours trade.
The stock has been on a tear this year, gaining 14 percent as of its Thursday close. During the normal session, shares of Intel set a fresh 52-week intraday high of $41.58.
While the client computing group still brings in the lion's share of overall revenue, Intel has been shifting its focus away from the personal computer market amid declining PC shipments. The segment reported better-than-expected revenue of $8.86 billion, or roughly flat year-over-year.
The company has instead highlighted its opportunities in new markets such as artificial intelligence and cloud infrastructure.
Earlier this month, Intel said it is collaborating with Facebook to develop artificial intelligence chips for data centers.
This is breaking news. Please check back for updates.