Here's Why Intel's Stock Is Gaining Ground Today
Investors were celebrating Intel's (NASDAQ: INTC) latest quarterly financial results today after the company reported better-than-expected top and bottom lines. The tech sector has generally disappointed investors lately, so the good news from the company was welcomed.
Not everything was fantastic for Intel in the quarter, though, and management said cost reductions are on the way. But investors viewed the latest quarterly results from a glass-half-full perspective Friday morning, and its share price had climbed 11% as of 11:28 a.m. ET.
Intel reported adjusted earnings per share of $0.59 in the third quarter, which was down 85% from a year ago but far better than analysts' consensus estimate of $0.32 per share.
Source Fool.com
