Intel earnings match estimates, shares rise after hours

Intel just reported its first quarter earnings, and it matched analyst estimates across the board.

Intel reported $US12.8 billion in revenue, just a slight miss from the $US12.9 billion expectation.

It reported $US0.41 earnings per share, matching analyst estimates of $US0.41 per share.

Intel’s Client Computing Group saw revenue of $US7.4 billion, down 8% from a year ago. This is a new unit created this quarter, after the company combined its PC and mobile units.

Last month, Intel cut its revenue forecasts by nearly $US1 billion, citing weak demand for PC chips and a “challenging” business environment, largely due to a stronger US dollar.

“Year-over-year revenues were flat, with double-digit revenue growth in the data center, IoT and memory businesses offsetting lower than expected demand for business desktop PCs,” Intel CEO Brian Krzanich said in a statement. “These results reinforce the importance of continuing to execute our growth strategy.”

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