Intel Corp. Q3 Beats Views By A Penny; Guides Slightly Above Views

Intel Corp. INTC ticked higher in Tuesday's extended session after the company posted third-quarter revenue growth of 8 percent and forecast fourth-period results ahead of expectations. Shares of the Santa Clara, Calif.-based chip maker beat third-quarter views by a penny a share, and recently gained 1.74 percent after hours to $32.70. Chief Executive Brian M. Krzanich said recent results "give us confidence" that Intel is getting traction in new markets. Intel forecast a sequential 1 percent gain in fourth-quarter revenue to $14.7 billion, in line with average seasonal increases. Wall Street expects fourth-quarter revenue of $14.49 billion. Fourth-quarter gross margin will fall one point to 64 percent, because of higher costs for factory start-ups, and per-unit costs for certain chip sets, partly offset by lower production costs for its 14-nanometer chips. In the recent period, net income grew 12 percent to $3.3 billion, or $0.66 cents a share, from $3 billion, or $0.58 cents a share a year earlier. Revenue grew 8 percent to $14.6 billion, from $13.5 billion last year. Analysts expected $0.65 cents a share, on revenue of 14.45 billion.