Home / Business and Economy / Intel Surges 20% on Strong Earnings & Guidance
Intel Surges 20% on Strong Earnings & Guidance
24 Apr
Summary
- Intel shares surged 20% after beating revenue and EPS estimates.
- Data center business growth of 22% drove a 7.2% year-on-year revenue increase.
- Despite losses, Intel's stock has risen 80% in 2026 and 85% last year.
Intel experienced a significant surge of 20% in extended trading on April 23, 2026, after announcing financial results that surpassed analyst expectations and provided a strong outlook for the current quarter ending in June. The company reported first-quarter revenue of $13.58 billion, exceeding the $12.42 billion estimate, and an EPS of 29 cents, far above the one-cent projection. This performance marks a 7.2% year-on-year revenue growth, a welcome change after five quarters of decline. The data center business was a key driver, with a 22% increase in traction due to high CPU demand. This demand is further underscored by Intel's repurchase of a 49% stake in its Ireland chip fab. Despite these positive indicators and a potential partnership with Tesla, Intel's net loss widened to $4.28 billion from $887 million a year prior. Nevertheless, the stock has become a Wall Street favorite, rising 80% year-to-date in 2026 and 85% in 2025, indicating a strong recovery narrative. The positive momentum for Intel also extended to its peer, AMD, whose shares saw a 7% increase in extended trading.
