Intel Earnings, Revenue Beat in Q3

Investing.com – Intel (NASDAQ:) shares rose postmarket after it reported third-quarter and revenue that beat analysts’ expectations Thursday and boosted its guidance.

The semiconduction maker also announced an increase in its share buyback program.

Shares rose 7.5% in after-hours trading.

The news will be some relief to chip investors who took the hit of a dismal report earlier in the week from Texas Instruments (NASDAQ:).

The company reported earnings per share of $1.42 on revenue of $19.19 billion. Analysts polled by Investing.com forecast EPS of $1.23 on revenue of $18.02 billion. That compared to EPS of $1.4 on revenue of $19.16B in the same period a year earlier.

Intel (NASDAQ:) said it expects earnings of $1.24 per share on revenue of $19.2 billion in the fourth quarter. Analysts were looking for a profit of $1.21 per share on revenue of $18.83 billion, according to forecasts from S&P Capital IQ.

For the full year, the company is guiding for a profit of $4.60 per share against a consensus of $4.38 per share and revenue of $71 billion compared with expectations for $69.74 billion.

Intel said it would also boost its stock repurchase program by $20 billion.

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