Intel raises full-year forecasts on demand for data center chips

“(Reuters) – Intel Corp beat earnings expectations for the first quarter and raised its full-year revenue and profit forecasts on Thursday, driven by higher demand for chips from data centers and personal computers” writes Midwest Communications Inc for Analysts on average were expecting Intel to report a profit of 72 cents per share on a revenue of $15.08 billion, according to Thomson Reuters I/B/E/S.Intel has been focused on transforming itself from a supplier of personal computers to a maker of chips for growing data center business and newer areas such as driverless cars and artificial intelligence.Shares of the Santa Clara, California-based chipmaker rose 7.6 percent to $57.10 in after-market trading after the chipmaker said it expects its full-year revenue of $67.5 billion, up $2.5 billion from its prior guidance.

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