Intel earnings Q3 2017

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Intel employees walk by a sign as they enter their office in Santa Clara, California.

Intel reported quarterly earnings and revenue that easily topped analysts’ expectations on Thursday.

Here’s how the company did compared with what Wall Street expected:

• Adjusted EPS: $1.01 vs. 80 cents expected according to Thomson Reuters
• Revenue: $16.15 billion vs. $15.73 billion expected according to Thomson Reuters

Shares of Intel gained as much as 1 percent in after-hours trade.

While the client computing group still brings in the lion’s share of overall revenue, Intel has been shifting its focus away from the personal computer market amid declining PC shipments.

The company has instead highlighted its opportunities in new markets such as artificial intelligence and cloud infrastructure.

Earlier this month, Intel said it is collaborating with Facebook to develop artificial intelligence chips for data centers.

Shares of Intel have surged about 14 percent so far this year. The stock hit a fresh 52-week intraday high of $43.03 on Thursday.

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