Intel: beats estimates, shares jump

(CercleFinance.com) - Yesterday evening Intel beat Wall Street estimates for its fourth-quarter revenue and profit and raised its quarterly cash dividend by 5%.


This performance prompted the chipmaker's shares to rise by over 7% in early morning trading on Friday.

Powered by sales to data centers and cloud experts, fourth-quarter revenue rose 8% and set an all-time quarterly record of 20.2 billion dollars, the Santa Clara-based company said.

Its net income rose to 21.8 billion dollars, up 1% from last year's figure of 21.5 billion dollars.

"Intel delivered very strong results (...) and provided what should be viewed as a positive forward outlook," analysts at Wells Fargo commented.

Intel forecast first-quarter revenue of approximately 19 billion dollars, with earnings per share (EPS) of 1.30 dollar.

Its board of directors also approved a 5% cash dividend increase to 1.32 dollar per share on an annual basis.

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