Intel Smashes Q1 Estimates, Stock Surges 15% After Hours
Intel posted $13.58B in Q1 revenue, beating Wall Street expectations by over a billion dollars.
Intel just reminded Wall Street it's still in the game. The chipmaker reported Q1 revenue of $13.58 billion, up 7% year-over-year and well above the $12.42 billion analysts had penciled in. That's a beat of more than a billion dollars.
The good news didn't stop there. Intel's Q2 guidance for both revenue and adjusted earnings per share came in above consensus estimates, signaling the company sees continued momentum ahead.
Investors responded immediately. INTC shares jumped more than 15% in after-hours trading — a massive move for a company of Intel's size.
The results suggest Intel's turnaround efforts are gaining traction. Beating estimates is one thing. Beating them by this margin while guiding higher is another. The market clearly liked what it saw.