Intel Corporation (NASDAQ:INTC) shares climbed as much as 6% in Thursday’s after-hours trading session after the semiconductor giant posted second-quarter 2023 financial results that topped expectations on both its top and bottom lines.
The company generated $12.9 billion in revenue for quarter, exceeding the $12.02 estimate, while its adjusted earnings per share (EPS) of $0.13 surpassed the consensus forecast for a loss of $0.04.
The quarterly results marked the return to profitability for Intel after two straight quarters of losses.
As well, the company stated that it expects 3Q revenue to come in roughly between $12.9 billion and $13.9 billion, compared to estimates of $13.23 billion, along with earnings per share of $0.20 that is $0.04 better than the Wall Street forecast.
During its previous quarter (1Q), Intel posted its biggest quarterly loss in company history ($2.8 billion) but edged past analyst expectations on both the company’s top and bottom lines.
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