Intel stock rallies more than 5% as earnings, outlook top Street view

Intel Corp. shares surged in the extended session Thursday after the chip giant posted a big earnings beat compared with what Wall Street analysts had been expecting and raised its outlook for the year.

Data-center group, or DGC, revenue fell 10% to $ 5 billion, compared with $4.89 billion expected by analysts, according to FactSet data. The company sees adjusted earnings of $1.24 a share on revenue of about $18 billion for the third quarter, and $4.40 a share on revenue of about $69.5 billion for the year. Back in April, Intel had forecast an outlook of $4.35 a share on revenue of about $69 billion.

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