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Shares of Intel Corp. (INTC) rose nearly 5% after the past hour as the chip maker reported a profit of $ 1.40 per share for a turnover of $ 19.16 billion.
Analysts were expecting Intel to announce earnings per share of $ 1.15 on a turnover of $ 18.13 billion.
"In the third quarter, customer demand from our PCs and data-centric businesses was stronger than expected, which allowed our company to achieve record-breaking business and improve its prospects for the next quarter. His fiscal year, up more than $ 6 billion from January's expectations "Acting CFO and CEO Bob Swan said in the statement.
As a result, the Company has increased its full-year revenue guidance from $ 69.5 billion to $ 71.2 billion and its earnings guidance for the current year, from $ 4.15 per share to $ 4.53.
"In the fourth quarter, we remain focused on meeting the incredible market demand for Intel products to support our customers' growth, and we expect 2018 to be another record year for Intel, and our transformation is positioning us for gain a share of the enlarged market. " Total addressable market of $ 300 billion, "said Swan.
Intel was in the news earlier this week as a result of reports that it was abandoning its chip-making process at 10 nm in response to a series of delays earlier this year. But Intel has denied this information even as its rival, Advanced Micro Devices Inc. (AMD), gained ground against the domination of Intel.
Intel's shares are down 11% since the company's last earnings release, but shares rose more than 5% on Thursday.
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