Intel has reported a net income of $4.1 billion, or 90 cents per share, for the quarter ending in September. This marks a significant turnaround from the previous year when the company posted a loss of $17 billion, or $3.88 per share. When excluding certain one-time items, Intel’s profit stood at 8 cents per share.
The company’s revenue reached $13.7 billion for the quarter, which is an increase of 3% compared to the same period last year.
A notable development this quarter was that the United States government became a 10% owner of Intel in August. This move was unexpected, particularly because it came under a Republican administration, which traditionally avoids direct government intervention in corporate affairs.
Following the earnings announcement, Intel’s stock price increased by nearly 8% in after-hours trading to reach $41.10 per share.
