Intel shares surged nearly 10% on Friday, propelled by a third-quarter profit report that handily beat analyst forecasts. The jump reflects a wave of investor confidence in the chipmaker’s ongoing turnaround strategy.
The positive momentum, which began with a 7% rise in U.S. after-hours trading Thursday, continued strongly in European markets. The stellar results mark a significant milestone for Intel, coming on the heels of major financial injections from industry giants like Nvidia and SoftBank, alongside an unprecedented equity stake taken by the U.S. government.
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While the company has benefited from these external investments, the latest earnings highlight the immediate impact of its internal restructuring. A primary driver for the profit beat was a dramatic company-wide effort to reduce costs, signaling to the market that Intel is on a path toward improved financial health and operational efficiency.
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