Intel $INTC jumps 20% as Q1 revenue reaches $13.58B, data-center sales +22%

Intel $INTC rose about 20% in extended trading on April 23 after first-quarter results cleared low Wall Street expectations by a wide margin. CNBC, citing LSEG data, said Intel posted adjusted EPS of $0.29 on $13.58B of revenue versus consensus for $0.01 and $12.42B. For a stock that had been treated as an AI laggard, the combination of a revenue beat, faster data-center growth and stronger second-quarter guidance was enough to force a quick repositioning.

Intel's earnings release put first-quarter revenue at $13.6B, up 7% year over year, with non-GAAP gross margin of 41.0%. The company said data-center revenue rose 22% to $5.1B and foundry revenue increased 16% to $5.4B. GAAP loss per share was $(0.67), while non-GAAP EPS was $0.29. CNBC also reported a net loss of $4.28B, a reminder that Intel's turnaround is still capital-intensive even as demand improves.

• Adjusted EPS: $0.29 vs $0.01 expected
• Revenue: $13.58B vs $12.42B expected
• Data-center revenue: $5.1B, up 22%
• Q2 guide: $13.8B to $14.8B revenue, $0.20 non-GAAP EPS

The guide mattered almost as much as the quarter. Intel projected second-quarter revenue of $13.8B to $14.8B and non-GAAP EPS of $0.20. CNBC said analysts had been looking for about $13.07B and $0.09. CFO David Zinsner said the company delivered "robust Q1 results," and investors will now test that claim against execution in server CPUs, AI accelerators and manufacturing ramp costs over the next quarter.

The broader stake is sector leadership. A 20% post-earnings jump in $INTC does not erase the execution risk inside the foundry buildout or the drag from a still-large GAAP loss. It does show that simultaneous growth in data center and foundry can change the market narrative quickly. That matters for semiconductor peers because it suggests the AI cycle is no longer rewarding only the most obvious winners.

Not investment advice. Verify all figures with primary sources before acting.