Intel announced a second-quarter profit of $2.9 billion, or 51 cents per share, on revenue of $10.8 billion. The company's shares are up 8.14 percent in after-hours trading to $22.72, as the reported results are significantly better than Wall Street consensus of earnings of 43 cents a share on revenue of $10.25 billion.
Intel CEO Paul Otellini attributed Intel's best quarter in the company's 42-year history to strong demand from corporate consumers, and said demand for leading-edge technology will continue to increase for the foreseeable future.
Intel reported a second-quarter profit of $2.9 billion, or 51 cents a share, compared with a loss of $398 million, or 7 cents a share, for the year-earlier period. Revenue was $10.8 billion, up from $8.02 billion.
The company's previous year's results included a $1.45 billion charge related to a European Commission antitrust fine against Intel.