Intel stock rallies as data-center sales drive big Wall Street beat
By Wallace Witkowski
Published: Jan 23, 2020 4:11 p.m. ET
Data-center revenue rises 19% to $7.2 billion, while analysts expected $6.39 billion
Intel Corp. shares rallied in the extended session Thursday after the chip maker’s quarterly results and outlook topped Wall Street estimates with a big beat in data-center sales.
Intel INTC, +0.94% shares surged 7 % after hours, following a 0.9% rise in the regular session to close at $63.32. In comparison, the Dow Jones Industrial Average DJIA, -0.09% declined 0.1 %, the S&P 500 index SPX, +0.11% rose 0.1%, the tech-heavy Nasdaq Composite Index COMP, +0.20% advanced 0.2%, and the PHLX Semiconductor Index SOX, +0.78% gained 0.8%.
The company reported fourth-quarter net income of $6.91 billion, or $1.58 a share, compared with $5.2 billion, or $1.12 a share, in the year-ago period. Adjusted earnings were $1.52 a share.
Revenue rose to $20.21 billion from $18.66 billion in the year-ago quarter.
Analysts surveyed by FactSet had forecast earnings of $1.25 a share on revenue of $19.23 billion.
Read: How Intel figures in data-center recovery is key
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Intel soaring AH up to around 67.80 at the moment. |
