Africa-Press – Eritrea. Intel shares rose as much as 7% Thursday after the US chipmaker posted third-quarter earnings and revenue exceeding market expectations.
The company released its financial results for the July-September period, reporting revenue of $13.7 billion, up 3% from $13.3 billion in the same period last year.
Intel, which reported a net loss of around $16.6 billion in the third quarter of last year, recorded a net profit of $4.1 billion during the same period of this year.
Earnings per share came in at $0.90 compared to a loss of $3.88 per share a year earlier.
“Our Q3 results reflect improved execution and steady progress against our strategic priorities,” the company’s CEO, Lip-Bu Tan, said in a statement.
“AI is accelerating demand for compute and creating attractive opportunities across our portfolio, including our core x86 platforms, new efforts in purpose-built ASICs and accelerators, and foundry services,” Tan added.
He emphasized that the company’s “industry-leading CPUs and ecosystem, along with our unique US-based leading-edge logic manufacturing and R&D, position us well to capitalize on these trends over time.”
In August, after US President Donald Trump called for Tan’s resignation over alleged ties to Chinese companies, the US government reached a rare agreement to buy a 10% stake in the company for $8.9 billion.
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