Intel (NASDAQ:INTC) shares soared in late trading Thursday after the chipmaker reported first-quarter earnings and revenue, which smashed market expectations.
The chipmaker reported earnings of US$0.87 per share on revenue of US$16.07bn. These figures crushed the predictions of Wall Street analysts who had expected Intel to earn EPS of $US0.71 on $15.1bn.
Shares surged 8.2% in after-hours trade to US$57.41.
The company, which also develops products like integrated circuits, issued guidance for its second-quarter earnings and for the full year.
It now expects second-quarter profits to fall between $0.80 to $0.90 per share on revenue of US$15.8bn to US$16.8bn. For the full-year, Intel also trounced analysts’ projections, with its expectation that revenue will fall between US$3.66 to US$4.04 per share on revenue of $66.5bn to US$68.5bn.
The current consensus estimate is for Intel to earn $3.54 per share in 2018 on revenue of $64.82bn.