Intel beats profit, revenue estimates

Intel Corp beat analysts' estimates for quarterly revenue and profit on Thursday, raising hopes that a recent slump in chip demand aggravated by the U.S.-Sino trade war was easing. Net income fell to $4.2 billion, or 92 cents per share, in the second quarter, from $5 billion, or $1.05 per share, a year earlier.

Net revenue fell 3% to $16.5 billion. Excluding items, the company earned $1.06 per share.

Analysts on average had expected adjusted earnings of 89 cents per share and revenue of $15.7 billion, according to IBES data from Refinitiv.

Also Read: Earnings to drive markets this week; indices may see volatility: Analysts