Intel posts profit even as it struggles to regain market share

Intel posted profits in the latest quarter as the one-time America technology icon struggles to regain market share.

Intel reported net income of $4.1 billion, or 90 cents per share in the three months through September, up from a loss of $17 billion, or $3.88 cents per share, a year earlier. Excluding some one-time items, the company posted a profit of 8 cents per share.

Revenue was $13.7 billion, up 3% from a year ago.

The U.S. became a 10% owner of the company in August in a startling move for a Republican prsident, bucking that party's long-held belief that the governments shouldn’t try to pick corporate winners and losers.

Intel rose nearly 8% in after-hours trading to $41.10 per share.

Recently installed CEO Lip-Bu Tan has been cutting thousand of positions and mothballing projects to cut costs.

Read More

How it Worked: Bets flowed after NBA player told pal he'd skip much of game, indictment says

Colorado woman found guilty of voter fraud for casting ballots for late ex-husband and son

A Florida teenager is in an Israeli prison. Why his family and advocates say he should be released