Intel reported its fastest revenue growth since 2011. Its stock surged

On Thursday, Intel reported second-quarter results that beat analysts' expectations: the company posted its fastest revenue growth since 2011 and issued a forecast for the current quarter that exceeded analysts' expectations.

Intel's revenue in the second quarter rose 25% year-over-year to $16.1 billion. Analysts surveyed by LSEG had expected $14.42 billion, according to CNBC. Adjusted earnings per share came in at $0.42, compared with the expected $0.21. The net loss was $11 billion, and the loss per share was $2.16.

For the current quarter, Intel forecasts adjusted earnings of $0.38 per share on revenue ranging from $15.8 billion to $16.8 billion. Analysts surveyed by LSEG had expected revenue of $15.1 billion and earnings of $0.27 per share.

The chipmaker's shares jumped nearly 12% in after-hours trading on July 23, reaching $112.1. During regular trading on Thursday, the stock fell 2.3% to $100.2.

This news story is being updated

This article was AI-translated and verified by a human editor