Intel Revenue and Outlook Exceed Expectations, Stock Price Surges 13% in After-Hours Trading

BlockBeats News, July 24th, Intel (INTC.O) released unexpectedly strong revenue guidance, indicating that a surge in data center spending is helping the chipmaker achieve its long-awaited recovery.

The company stated that it expects third-quarter revenue to reach $15.8 billion to $16.8 billion. Even the lower end of this range comfortably exceeds the analysts' average expectation of $15.1 billion. This guidance highlights Intel's growth momentum among data center customers who are in urgent need of chips to meet the demands of AI computing. In the previous quarter, sales in this sector surged by 59%, more than twice the overall revenue growth of Intel.

According to BIT market data, after the financial report was released, Intel's stock price rose by 13% in after-hours trading, now retracing to a 3.48% gain. In addition, Intel's second-quarter revenue reached $16.13 billion, also surpassing the market's expectation of $14.43 billion.