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Intel Earnings Beat Expectations, Shares Jump 2%

Myles UdlandOct 15, 2014, 01:35 IST

Intel's third quarter earnings beat expectations and shares were up as much as 2% in after hours trade.

Intel reported third quarter earnings per share of $0.66 against expectations for $0.65.

Third quarter revenue totaled $14.6 billion, up 8% over the prior year.

For the fourth quarter, Intel expects revenue of $14.7 billion, plus or minus $500 million.

Revenue in Intel's PC client group grew 9% over last year to $9.2 billion, while data center revenues grew 16% and revenue in its "Internet of Things" group were up 14% over the prior year.

"We achieved our best-ever revenue and strong profits in the third quarter. There is more to do, but our results give us confidence that we're successfully executing to our strategy of extending our products across a broad range of exciting new markets," said Intel CEO Brian Krzanich.