Intel Shares Are Climbing Higher Thursday: What's Going On?
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Intel Corporation's shares rose after reporting Q3 earnings of 23 cents per share and revenue of $13.65 billion, exceeding expectations. The Client Computing Group's revenue increased by 5% year-over-year, while total product revenue rose 3%. Gross margin improved to 40%. The company announced $8.9 billion in U.S. government funding and $7 billion in investments from NVIDIA and SoftBank. For Q4, Intel expects adjusted earnings of 8 cents per share and sales between $12.80 billion and $13.80 billion. Analysts adjusted price targets, with most maintaining their ratings.
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Source: Benzinga The copyright of this article belongs to the original author/organization.
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