Intel’s (INTC) stock is up 30% after the semiconductor maker reported first-quarter financial results that surpassed Wall Street’s expectations.
The legacy technology company reported earnings per share (EPS) of $0.29 U.S., which topped the $0.01 U.S. consensus forecast of analysts.
Revenue in the period totaled $13.58 billion U.S., which was ahead of the $12.42 billion U.S. anticipated on Wall Street. Sales were up 7% from a year earlier.
The latest results represent a turnaround for Intel, which previously reported year-over-year revenue declines in five of the last seven quarters.
The chipmaker has begun to turn its business around after being championed by the Trump administration, which has turned the U.S. government into its largest shareholder.
Looking ahead, Intel said that it expects second-quarter 2026 revenue of $13.8 billion U.S. to $14.8 billion U.S., and earnings per share of $0.20 U.S.
The forward guidance is far above Wall Street expectations that called for revenue of $13.07 billion U.S. and earnings of $0.09 U.S.
In this year’s first quarter, Intel saw the strongest growth in its data centre business, where it’s making headway in A.I. due to rising demand for central processing units (CPUs).
Revenue in Intel’s data centre unit rose 22% to $5.1 billion U.S. during Q1.
The CPU market has taken off in recent months as A.I. workloads shift compute needs beyond Nvidia’s (NVDA) graphics processing units (GPUs).
INTC stock has been on a big upswing over the past year. Prior to today (April 24), Intel’s share price had risen 70% over the last 12 months to trade at $66.78 U.S. per share.
