Intel Corp. (NASDAQ:INTC) stock soared after the company reported its first-quarter results after Thursday’s closing bell, blowing past Wall Street expectations.
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Intel Q1 Details
Intel reported quarterly earnings of 29 cents per share, which blew past the analyst consensus estimate of one cent, according to Benzinga Pro data.
Quarterly revenue came in at $13.58 billion, which beat the Street estimate of $12.42 billion by 9.28% and was up from $12.67 billion in the same period last year.
“The next wave of AI will bring intelligence closer to the end user, moving from foundational models to inference to agentic. This shift is significantly increasing the need for Intel’s CPUs and wafer and advanced packaging offerings,” said Lip-Bu Tan, Intel CEO.
“With a solid foundation in place, we are addressing this opportunity by listening to our customers and driving their success with our technical expertise and differentiated IP.”
Tan added, “This deliberate reset to how we operate drove a sixth consecutive quarter of revenue above our expectations, as well as new and deepened relationships with strategic partners.”
Intel’s Outlook
Intel expects second-quarter adjusted EPS of 20 cents, versus the 9 cent analyst estimate, and revenue in a range of $13.8 billion to $14.8 billion, versus the $13.07 billion estimate.
Intel shares were up 50% in April alone, heading into the report.
The company will host a conference call to discuss the results at 5 p.m. ET. Watch it live:
INTC Stock Price: According to data from Benzinga Pro, Intel stock was up 14.85% to $76.71 in Thursday’s extended trading.
Photo: Shutterstock
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