Intel Reports Profit Surge But Warns of Further Delays on Advanced Chips

Intel Corp. reported stronger earnings in the second quarter, buttressed by a work-from-home economy that spurred demand for computing power, but its shares tumbled in after-hours trading when it signaled a delay in its development of superfast chips.

Intel said Thursday its profit in the April-June period rose 22% from a year ago to $5.11 billion. Earnings per share were $1.19, rising from 92 cents a share last year and exceeding forecasts from analysts surveyed by FactSet. On an adjusted basis, EPS also rose to $1.23.

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