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Intel Soars 19% After Hours, Q1 Revenue at $13.6 Billion, Up 7.2% Year-on-Year
On April 24, Intel surged 19% in after-hours trading, reaching $79.50. The company’s Q1 revenue was $13.6 billion, a 7.2% increase year-on-year, surpassing the estimated $12.36 billion. However, Intel reported a net loss of $3.7 billion for the first quarter, compared to a loss of $800 million in the same period last year. Adjusted earnings per share for Q1 were $0.29, up from $0.13 a year earlier, and exceeding the estimate of $0.01. The earnings report indicated that Intel’s data center and AI revenue for Q1 was $5.05 billion, while client computing revenue was $7.73 billion, with analysts expecting $7.096 billion. Additionally, Intel Foundry revenue for Q1 was $5.42 billion. The company anticipates Q2 revenue to be between $13.8 billion and $14.8 billion, compared to the estimated $13.04 billion.