Intel shares rallied after the struggling chipmaker reported better than expected revenue, adding to its momentum following big investments from the Trump administration, Nvidia and Japan’s SoftBank.
The Santa Clara, California-based tech group reported revenue of $13.7bn, up 3 per cent year-on-year — beating Wall Street expectations of $13.2bn.
Intel expected revenue of between $12.8bn and $13.8bn for the fourth quarter, roughly in line with consensus estimates. Its shares rose about 7 per cent in after-hours trading.
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