Intel (NASDAQ: INTC) reported quarterly earnings and revenue that beat analysts' expectations on Thursday. Shares jumped as much as 8% after the announcement.
Earnings proved 87 cents per share vs. 72 cents per share forecast. Revenue came in at $16.07 billion vs. $15.08 billion forecast
The company's total revenue for the quarter was up 9% year over year, with earnings up 32% since the first quarter of 2017.
Intel's biggest segment, the Client Computing Group, brought in $8.2 billion in the first quarter, up 3% year-over-year. But it is in the data-centric businesses that Intel has seen the largest and most rapid growth.
The Data Center Group, Intel's second largest segment, reported $5.2 billion in revenue, a 24% increase since last year.
Last quarter, the segment grew by 20%. The data portions of Intel's business, which include processors for artificial intelligence, cloud and data center offerings and Internet of Things solutions, accounted for an all-time high 49% of Intel's total revenue.
Intel also said its autonomous driving company, Mobileye, began operating autonomous test vehicles in Israel with plans to expand elsewhere within the coming months.
Intel's second-quarter guidance came about in-line with Street expectations. The company also said it was raising its full-year revenue to $67.5 billion, up $2.5 billion from previous guidance.
INTC stock increased $1.29, or 2.4%, to $54.34 mid-morning Friday, within a 52-week trading range of $33.23 to $54.35.
