Intel hails highest share price in decade as earnings smash forecasts
Intel shares jumped as much as 24.4 per cent on Friday after the chipmaker delivered a strong earnings beat and upbeat outlook, raising hopes of a sustained turnaround.
The stock surged in early trading after already climbing more than 20 per cent in after-hours moves, putting it on track for one of its biggest one-day gains in decades.
Intel’s first-quarter results came in well ahead of expectations.
The company reported adjusted earnings per share of 29 cents, compared with forecasts of just 1 cent, while revenue reached $13.58bn (£10.05bn) versus expectations of $12.42bn.
It also issued stronger-than-expected guidance for the second quarter, forecasting revenue between $13.8bn and $14.8bn and earnings of around 20 cents per share, both comfortably above analyst estimates.
“The CPU is reinserting itself as the indispensable foundation of the AI era”, said chief executive Lip-Bu Tan.
“This isn’t just our wishful thinking, it’s what we hear from our customers.”
That trend was reflected in Intel’s data centre business, where revenue rose 22 per cent to $5.1bn.
Turnaround hopes rise despite ongoing losses
The rally adds to a strong run for Intel, with shares now up more than 80 per cent this year following gains in 2025.
The stock is also pushing towards levels last seen during the dot-com era, as investors bet on a recovery after years of lagging rivals such as Nvidia and Advanced Micro Devices.
However, Intel reported a net loss of $4.28bn for the quarter, wider than the $887m loss a year earlier, as it continues to invest heavily in manufacturing and AI-related infrastructure.
The company is also working to expand its foundry business and attract external customers, while navigating tech and production challenges.