Intel Corporation (NASDAQ: INTC) Thursday reported higher revenues and earnings for the third quarter of 2021. The bottom-line also came in above estimates.
Revenues increased 5% annually to $19.2 billion in the September quarter as the COVID-driven digital transformation lifted the demand for chips. On an adjusted basis, revenues were $18.1 billion.
Adjusted earnings moved up to $1.71 per share from $1.08 per share in the third quarter of 2020 and beat the estimates. Net income was $6.8 billion or $1.67 per share, compared to $4.3 billion or $1.02 per share last year.
Read management/analysts’ comments on Intel’s Q3 results
Shares of Intel lost about 13% in the past six months. They declined on Thursday evening immediately following the earnings announcement, after closing the regular session higher.