Intel on Thursday published its financial results for the first quarter, and its stock rocketed 28% in after-hours trading, hitting an all-time high of $80.01. The results saw Intel significantly beating its own outlook by $1.4 billion due to rising demand for data center-grade CPUs, decent demand for client products, and increased output and productivity at Intel's own fabs. Despite results that are well above seasonality, the company still posted a rather massive $3.7 billion loss as it wrote down Mobileye goodwill and restructuring charges. However, the results can be considered positive as on a non-GAAP basis, the company recorded $1.5 billion in net income.
"We delivered robust Q1 results, reflecting the growing and essential role of the CPU in the AI era and unprecedented demand for silicon, as well as our disciplined execution to expand available supply," said David Zinsner, Intel CFO. "We remain focused on maximizing our factory network to improve available supply and meet our customers’ needs throughout the year."
