Investing.com - Intel (NASDAQ:INTC) shares rose postmarket after it reported third-quarter earnings and revenue that beat analysts' expectations Thursday and boosted its guidance.
The semiconduction maker also announced an increase in its share buyback program.
Shares rose 7.5% in after-hours trading.
The news will be some relief to chip investors who took the hit of a dismal report earlier in the week from Texas Instruments (NASDAQ:TXN).
The company reported earnings per share of $1.42 on revenue of $19.19 billion. Analysts polled by Investing.com forecast EPS of $1.23 on revenue of $18.02 billion. That compared to EPS of $1.4 on revenue of $19.16B in the same period a year earlier.
Intel (NASDAQ:INTC) said it expects earnings of $1.24 per share on revenue of $19.2 billion in the fourth quarter. Analysts were looking for a profit of $1.21 per share on revenue of $18.83 billion, according to forecasts from S&P Capital IQ.
For the full year, the company is guiding for a profit of $4.60 per share against a consensus of $4.38 per share and revenue of $71 billion compared with expectations for $69.74 billion.
Intel said it would also boost its stock repurchase program by $20 billion.