Intel shares jump after beating third-quarter profit expectations
Photo: Bloomberg
Intel shares surged nearly 10% in Frankfurt on Friday following the company’s third-quarter profit report, which exceeded analysts’ expectations, fueled by significant cost-cutting measures.
The earnings announcement marked Intel’s first report after multibillion-dollar investments from Nvidia and Japan’s SoftBank, as well as a historic U.S. government stake in the company, providing investors with anticipation of a major cash boost, News.Az reports, citing Reuters.
In U.S. after-hours trading on Thursday, Intel shares rose around 7%, while trading in Frankfurt on Friday saw an increase of 9.7%, reflecting strong investor confidence following the earnings beat.
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