Intel results beat estimates on data center growth

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Intel results beat estimates on data center growth.
(Reuters) - Intel Corp (INTC.O), which is rushing to fix recently disclosed security flaws in its chips, beat expectations for adjusted profit and revenue in the fourth quarter, driven by strong growth in its data center business.

The company’s shares rose 3.7 percent to $47.05 after the bell on Thursday.

The chipmaker, which recorded a $5.4 billion charge in the quarter due to the recent tax reforms, has been focusing on its data center business and newer areas such as artificial intelligence and driverless cars to reduce its reliance on its traditional PC market.

Revenue from the company’s higher-margin data center business rose about 20 percent to $5.58 billion, beating the average analyst estimate of $5.13 billion, according to Thomson Reuters I/B/E/S.



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Intel results beat estimates on data center growth