Intel (NASDAQ:INTC) shares jumped in mid-day trading on Thursday as a company executive said at an investor conference it is “above” the mid-point for its third-quarter guidance.
“At this point, we say we’re above the midpoint of our guide for Q3, so we’re feeling good about Q3 as that progresses,” CEO Pat Gelsinger said at Deutsche Bank’s Technology Conference.
The company previously said it expected to earn 20 cents per share and generate sales within a range between $12.9B and $13.9B for the third-quarter.
Gelsinger also noted that the company’s Client business, which houses its PC sales, is healthy and inventory levels have come down to normal levels. Additionally, Intel is improving market share in the segment, Gelsinger added.
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