Intel’s earnings for the last quarter exceeded Wall Street’s expectations, but the company’s outlook for the current quarter came in weaker than anticipated, leading to only a modest gain in after-hours trading.
On Thursday, Intel shares rose 2%, reaching $20.41 in after-hours New York Stock Exchange trading. The stock had already gained 1.32% during the regular session.
In its earnings report, released shortly after the market closed, Intel reported revenue of $14.2 billion for the quarter, surpassing the market’s forecast of $13.8 billion. Earnings per share also exceeded expectations, coming in at 13 cents compared to the expected 12 cents.
However, the company’s forecast for the upcoming quarter disappointed investors. Intel projects revenue between $11.7 billion and $12.7 billion, falling short of the consensus estimate of $12.8 billion.
As a result, Intel’s stock has seen limited gains, up just 2% in after-hours trading.