U.S. Markets closed

Intel: 3Q Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Intel Corp. (INTC) on Thursday reported third-quarter earnings of $5.99 billion.

The Santa Clara, California-based company said it had profit of $1.35 per share. Earnings, adjusted for one-time gains and costs, were $1.42 per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.

The world's largest chipmaker posted revenue of $19.19 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $18.03 billion.

For the current quarter ending in December, Intel expects its per-share earnings to be $1.24. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.20.

The company said it expects revenue in the range of $19.2 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $18.83 billion.

Intel expects full-year earnings to be $4.60 per share, with revenue expected to be $71 billion.

Intel shares have risen 11% since the beginning of the year, while the Standard & Poor's 500 index has risen 20%. In the final minutes of trading on Thursday, shares hit $52.23, a climb of 23% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INTC at https://www.zacks.com/ap/INTC