Semiconductor behemoth Intel Corporation (NASDAQ: INTC) Thursday reported an increase in revenues for the first quarter of 2024. Earnings exceeded Wall Street’s estimates.
Revenues rose 9% year-over-year to $12.72 billion in the March quarter. Revenues of Client Computing, the company’s main operating segment, grew in double digits.
The tech firm reported earnings of $0.18 per share for the first quarter, on an adjusted basis, compared to a loss of $0.04 per share in the same period of 2023. Earnings also beat estimates. On a reported basis, it was a net loss of $381 million or $0.09 per share in Q1, compared to a loss of $2.76 billion or $0.66 per share last year.
