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Intel Moves Higher on Cloud, Data Center Gains

Submitted by on October 29, 2017 – 12:22 amNo Comment

The move to the cloud, and the data center, is proving to be a smart one for Intel. On Thursday, the world’s largest chipmaker reported better-than-expected third-quarter earnings and sales, led by big gains in products for data centers and cloud computing technologies.

For the three months ending Sept. 30, Intel said it earned $1.01 a share, excluding one-time items, on $16.15 billion in revenue, compared with a profit of 80 cents a share, on sales of $15.8 billion a year ago. Intel’s results also topped the estimates of Wall Street analysts, who forecast Intel to earn 80 cents a share on $15.73 billion in revenue.

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