Intel: 1Q Earnings Snapshot

On a per-share basis, the Santaclara, California-based company said it had net income of 93 cents. Earnings, adjusted for one-time gains and costs, were 87 cents per share.

The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The world’s largest chipmaker posted revenue of $16.07 billion in the period, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $15.05 billion.

For the current quarter ending in July, Intel expects its per-share earnings to range from 80 cents to 90 cents.

The company said it expects revenue in the range of $15.8 billion to $16.8 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $15.54 billion.

Intel expects full-year earnings in the range of $3.66 to $4.04 per share, with revenue ranging from $66.5 billion to $68.5 billion.

Intel shares have climbed 15 percent 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 $53.05, a rise of 44 percent in the last 12 months.

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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