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Intel (INTC) shares jumped larger Friday after the chipmaker posted stronger-than-expected third quarter earnings, powered by stunning PC demand, and unveiled plans for large job cuts that offset one other pullback in its full-year gross sales forecast.
Intel’s adjusted backside line for the September quarter was pegged at 59 cents per share, nicely forward of the Avenue consensus forecast, whereas revenues fell 15% to $15.3 billion, simply forward of analysts’ estimates.
Consumer computing income fell 17% from final yr to $8.1 billion, Intel stated, however that determine topped Avenue forecasts of round $7.6 billion. Information Heart and AI division gross sales had been down 27% to $4.2 billion. Community and Edge Group gross sales had been up 14% from final yr to $2.3 billion, however had been basically flat to the earlier quarter.
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