Intel Pops Following Q3 Earnings Release

Shares of Intel INTC are trading higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are higher by 2.61%, trading at $24.01; they ended the regular session higher by 0.52%, at $53.40. Intel reported Q3 non-GAAP EPS of $0.69 on revenues of $14.3 billion; the Street was looking for $0.61 per share on revenues of $13.90 billion. Revenues increased 29% year over year, while net income increased 24%. "Intel delivered record-setting results again in Q3, surpassing $14 billion in revenue for the first time, driven largely by double-digit unit growth in notebook PCs," said Paul Otellini, Intel president and CEO. "We also saw continued strength in the data center fueled by the ongoing growth of mobile and cloud computing." Intel sees Q4 non-GAAP revenue of $14.7 billion +/- $500 million on gross margins of 66% (+/- a “couple” percent). Intel Corporation is a semiconductor chip maker company. The company develops advanced integrated digital technology products, primarily integrated circuits, for industries, such as computing and communications.