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Why Intel's Stock Jumped 8% Today

TheMotleyFool

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Why Intel's Stock Jumped 8% TodayPhoto, wide shot, wide-angle lens, Artificial intelligence developer, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/ee32e77c-b7d6-424b-91ea-4023f2292688.png

Shares of semiconductor leviathan Intel (NASDAQ: INTC) are surging on Friday, rising as much as 8.1% on heavy trading volume. The surge was triggered by a strong third-quarter earnings report.

Intel's adjusted earnings rose 1% year over year, landing at $1.42 per diluted share. Revenue held perfectly steady at $19.2 billion. The analyst consensus had been calling for earnings near $1.24 per share on sales in the neighborhood of $18.1 billion. Those far too modest analyst targets stuck closely to Intel's own guidance figures, so it looks like the solid performance also caught the company's management by surprise.

Image source: Getty Images.

Source Fool.com

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