Intel reported quarterly earnings that beat analysts' expectations on Thursday, but revenue was a miss.
The technology company posted fourth-quarter earnings per share of 66 cents, compared to 54 cents a share in the year-earlier period.
Revenue for the quarter came in slightly below expectations at $14.8 billion, against the comparable year-ago figure of $13.8 billion.
Analysts expect the company to post earnings of 65 cents a share and $14.81 billion in revenue, according to a consensus estimate from Thomson Reuters.
In a move to lead in the autonomous vehicle space, Intel recently announced an agreement to buy Mobileye for about $15.3 billion in cash for the Israeli technology company's computer vision expertise.
Intel's CEO Brian Krzanich told CNBC in March he expects to see self-driving cars by 2023 or 2024.
"Uniting these two technologies into one platform will make it easier for lawmakers to regulate the technology," Krzanich said then.
Intel continues to move away from its reliance on the declining PC business, shifting its focus to the "internet of things" and data center group, which creates chips for large computers.
Unfortunately, Krazinch recently said he expects lower profit margins for the data center business at an investor meeting in February. The statement came a day after Krzanich was at the White House and announced a plan to invest $7 billion in an Arizona factory that will employ 3,000 people.
The Santa Clara, Calif.-based company is also facing increasing competition from companies like Advanced Micro Devices with its new slate of gaming graphics and processor chips ? .
Shares of Intel are up 17 percent in the last 12 months.
