Intel shares jump 7% on earnings beat, uplifting guidance
Publishing timestamp: 2024-10-31 18:47:35
Summary
Intel reported better-than-expected earnings and issued uplifting guidance, with shares rising 7% in extended trading. The company is in the midst of a major restructuring initiative, including cost reduction and job cuts. Intel's revenue declined 6% year over year, but the Data Center and AI segment saw growth. The company announced the launch of new server processors and AI accelerators during the quarter. Intel shares were down 57% in 2024, but the company remains optimistic about its future.
Sentiment: POSITIVE
Keywords: technology, business news, earnings, breaking news: technology, qualcomm inc, breaking news: earnings, business, intel corp, enterprise,
Source: https://www.cnbc.com/2024/10/31/intel-intc-q3-earnings-report-2024.html