Intel Gains After Matching Q1 Earnings Estimates, Issues Guidance

Keep an eye on shares of Intel (INTC) in Thursday's trading session. The chip maker matched analysts' estimates for earnings in the first quarter. It posted a profit of 41 cents, in-line with analysts' estimates. However, revenue of $12.78 billion fell short of Wall Street estimates. Still, both the top and bottom line showed an improvement from a year ago. The company said it continues to see slowing demand for personal computers. Looking ahead, the company expects second quarter revenue in a range of between $12.8 billion to $13.7 billion. Shares have gained more than 20% so far this year. Intel ended the regular session down but, following the earnings release the stock gained in after-hours action. TheStreet's Kurumi Fukushima reports in New York.