The company smashed records, posting quarterly revenue of over $20 billion for the first time.
Analysts had been expecting revenue of $19.2 billion.
Earnings came in at $1.52 a share, handily beating analysts' expectations for $1.25 a share.
For 2020, the company forecasts sales of around $73 billion.
"When we look at 2020 demand cycles, at the macro level, this insatiable appetite for data and the processing resources that need to go to make that data relevant ... those trends continue and we feel very good about how we're positioned to capitalize on this increased demand," CEO Robert Swan told investors on a conference call late Thursday.
Jim Cramer had some thoughts on the downgrade from Loop Capital that was released after earnings.
"Intel's own manufacturing constraints in the value end of the computing market has opened the competitive door for AMD, which looks to be ending the year at about a 20% share of the market. AMD is also taking advantage of Intel's shortages to be more aggressive on price, which should be a growing headwind for Intel as the year progresses in both lower processor ASPs and accelerating AMD share gains. Intel is also being cautious regarding its Data Center Business, which grew 19% in the quarter, more than 3x what the the street had projected," analysts wrote in the note.
Watch the video above for more on Intel.
Online real estate platform CrowdStreet delivers investors a new way to diversify their portfolios with real estate. Individual investors can use CrowdStreet’s leading online marketplace to connect with a wide array of commercial real estate opportunities and projects to make investing in real estate easy! Download the Real Estate Guide.