Intel (INTC) late Thursday reported non-GAAP Q4 net income of $0.54 per share, improving on net income of $0.15 per share during the same quarter in 2022.
Analysts polled by Capital IQ, on average, had been looking for normalized earnings of $0.45 per share by the chipmaker.
Revenue for the three months ended Dec. 31 rose to $15.41 billion, compared with $14.04 billion a year ago.
The analyst consensus was for $15.17 billion.
Intel is projecting a non-GAAP profit of $0.13 per share on between $12.2 billion to $13.2 billion in revenue for the current quarter ending March 31.
The Street sees the company earning $0.32 per share in Q1 on revenue of $14.15 billion.
Intel shares slumped more than 10% in premarket activity Friday.