Intel impresses with better-than-expected quarterly figures and optimistic forecast

Intel's stock price saw a significant increase on Friday after the chip manufacturer released its third-quarter report. During trading, the price rose by 7.8%, after having previously increased by up to 9.6%. The company surprised after the market closed with results exceeding expectations, both in terms of profit and revenue. Despite one-off write-downs that impacted the results, Intel was able to impress with a better-than-forecasted outlook for the next quarter. Specifically, Intel reported a non-GAAP loss per share of $0.46 in Q3 with revenue of $13.28 billion. This included $0.63 per share in adjusted impairment charges. Analysts had expected a loss of $0.02 per share on revenue of $13.02 billion. However, after adjusting for these one-time charges, the company achieved earnings per share of $0.17. The company's cost-saving measures paid off and contributed to significantly better results than Wall Street expected. For the fourth quarter, Intel forecasts revenues between $13.3 and $14.3 billion, while analysts had estimated $13.66 billion. The expected adjusted gross margin is 39.5%, and earnings per share are projected to be $0.12, which is above the average analyst expectations of $0.08. CEO Pat Gelsinger emphasized in an interview with Bloomberg that Intel will continue to operate as an integrated company and that there are currently no plans to separate the business units for chip design and production. It remains to be seen whether Intel can further strengthen its competitive position in chip design and successfully expand its custom chip manufacturing business.