SANTA CLARA, Calif. (AP) _ Intel Corp. (INTC) on Thursday reported second-quarter earnings of $5.11 billion.
On a per-share basis, the Santa Clara, California-based company said it had net income of $1.19. Earnings, adjusted for one-time gains and costs, were $1.23 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.
The world's largest chipmaker posted revenue of $19.73 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $18.54 billion.
For the current quarter ending in October, Intel expects its per-share earnings to be $1.10. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.16.
The company said it expects revenue in the range of $18.2 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $18.04 billion.
Intel expects full-year earnings to be $4.85 per share, with revenue expected to be $75 billion.
Intel shares have increased 1% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $60.48, a climb of 17% in the last 12 months.