Intel Corporation (NASDAQ:INTC) stock jumped more than 6% in extended trading Thursday after its third-quarter earnings topped Street expectations.
The company posted adjusted earnings of $0.41 per share, well ahead of the $0.22 per share projected by analysts. Revenue was $14.16 billion, down 8% year-over-year and compared to Street expectations of $13.53 billion.
Sales from Intel’s Client Computing group, which includes its laptop and PC processor shipments, fell 3% to $7.9 billion.
Looking ahead, Intel expects fourth-quarter adjusted earnings of $0.23 per share on revenue between $14.6 billion and $15.6 billion. Analysts expect $0.32 per share on revenue of $14.31 billion.
“We delivered a standout third quarter, underscored by across-the-board progress on our process and product roadmaps, agreements with new foundry customers, and momentum as we bring AI everywhere,” CEO Pat Gelsinger said in a statement.
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