By Arsheeya Bajwa, Max A. Cherney and Stephen Nellis (Reuters) -Intel beat expectations for September-quarter profit as CEO Lip-Bu Tan's drastic cost-cutting measures helped the chipmaker shore up its finances amid a slew of high-profile investments in the company. Shares were up 7% in after-hours trading. This marks the Santa Clara, California-based company's first earnings announcement after multibillion-dollar investments from Nvidia and Japan's SoftBank as well as an unprecedented U.S. government stake, with investors anticipating a major cash boost. Intel received the SoftBank money in the third quarter but has not yet received Nvidia's cash, finance chief Dave Zinsner said in an interview with Reuters. The investments are expected to be a major lifeline for Intel, which has been stru
Intel beats third-quarter profit estimates as cost cuts, investments pay off
The Daily Guardian8 hrs ago
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