January 23, 2020 / 9:07 PM / a month ago

Intel forecasts 2020 revenue above estimates, shares rise

Jan 23 (Reuters) - Intel Corp forecast full-year revenue above analysts’ estimates on Thursday, helped by higher sales of its chips used in data centers that power internet-based services, sending its shares up 5%.

The company expects fiscal year 2020 revenue of about $73.5 billion, compared with analysts’ average estimate of $72.25 billion, according to IBES data from Refinitiv. (Reporting by Munsif Vengattil in Bengaluru and Stephen Nellis in San Francisco; Editing by Maju Samuel)

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