Its $15.3 billion in revenue was close to the $15.2 billion expected.
That will include layoffs, he said during a conference call about the financial results.
Intel’s stock rose 10% to $28.87 in trading midday Friday.
But not all analysts had the same take.
Intel lowered its full-year revenue estimate to $63 billion to $64 billion.
Gelsinger said Thursday that Intel has stabilized market share losses in PCs.
He’s aiming for big, but the years-long, ambitious effort hasn’t sat well with investors.
Gelsinger also touted progress with a low-power sibling called Sierra Forest due in 2024.
