Intel has reported the best quarter in its history, exceeding even the most optimistic forecasts.
Gross margins jumped to 67 percent and revenue topped $10.7 billion in the second quarter. The company reported profits of 2.89 billion, or 51 cents per share. Basically Intel managed to outperform all forecasts by a significant margin.
Of course, the good news did not go unnoticed by Wall Street and shares jumped 8 percent in after-hours trading. In fact, the entire tech sector was up on the news, including rivals AMD and Nvidia, which jumped 5.5 percent and 3.5 percent respectively.
Intel is projecting further increases in gross margin figures and revenues towards the end of the year.
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A quarter to remember
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