Intel Corp. shares surged in the extended session Thursday after the chip maker posted a surprise profit as PC and data-center sales came in better than expected. Intel
shares surged as much as 7% after hours, following a 0.6% rise to close the regular session at $34.55.
The company reported second-quarter net income of $1.48 billion, or 35 cents a share, versus a loss of $454 million, or 11 cents a share, in the year-ago period. After adjusting for restructuring charges and other items, Intel reported 13 cents a share, versus net income of 28 cents a share a year ago. Revenue fell to $12.95 billion from $15.32 billion in the year-ago period, and adjusted gross margins came in at 39.8%. Intel had forecast an adjusted second-quarter loss of 4 cents a share on revenue of about $11.5 billion to $12.5 billion for the current period, and adjusted gross margins of about 33.2% for the quarter. Analysts surveyed by FactSet, on average, expected a loss of 4 cents a share on revenue of $12.12 billion. Intel posted PC-group sales of $6.8 billion and d …