BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Intel Surpasses Q3 Revenue Expectations Driven by PC Processor Demand
Intel Surpasses Q3 Revenue Expectations Driven by PC Processor Demand
11
2
BTCCSquare news:
Intel reported $13.65 billion in Q3 revenue, exceeding analyst estimates of $13.14 billion, as demand for its x86 processors rebounded. Shares surged 6% in after-hours trading following the announcement.
The chipmaker posted net income of $4.1 billion, a dramatic reversal from last year's $16.6 billion loss. However, accounting complexities arose from an $8.9 billion equity agreement with the U.S. government, resulting in an additional 37 cents per-share loss.
CFO David Zinsner noted unprecedented challenges in accounting for the government's 433.3 million share purchase at $20.47 each. The transaction remains in regulatory limbo due to the ongoing government shutdown preventing SEC review.
By:
