Intel earnings signal recovery at US chip maker

Shares in Intel soared on Thursday after it smashed quarterly earnings expectations in what could be a sign that the US chip maker is on a path to recovery.

Intel reported revenue of $13.6 billion in a 7% increase from the same quarter a year earlier, but logged a $3.7 billion loss that was less than the market had anticipated.

It forecast revenue in the current quarter would range from $13.8 billion to $14.8 billion.