Intel’s stock jumped following a positive earnings report that exceeded Wall Street expectations. The chipmaker reported $13.7 billion in Q3 revenue and provided encouraging guidance for the current quarter amid its costly US manufacturing expansion.
Strong Quarterly Performance
Intel shares reportedly jumped approximately 5% in after-hours trading following the company’s third-quarter earnings release, according to financial reports. The chipmaker posted revenue of $13.7 billion, representing a 3% year-over-year increase and beating Wall Street expectations of $13.1 billion, sources indicate.