Intel beats forecasts, guidance pleases

After the close of trading on Tuesday evening US semiconductor giant Intel Corp. unveiled third quarter earnings per share of 65 cents on the back of $14.6bn in sales.

Analysts’ forecasts had been for earnings of 65 cents and $14.45bn in revenues.

For the next quarter the chip maker said revenues would rise to between $14.2-$15.2bn, in comparison to the $14.47bn projected by Wall Street.

Shares of the firm rose 2.61% in extended trading to close at $32.98.