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Intel (INTC) reported first quarter results on Thursday after the closing bell. Adjusted earnings per share (EPS) came in at $0.29 (compared to analyst estimates of $0.01), and revenue came in at $13.

Intel (NASDAQ: INTC) shares are ripping higher in extended hours after the semiconductor giant reported a blockbuster Q1 and issued impressive guidance for the future. While revenue at $13.6 billion came in up a steady 7% on a year-over-year basis – the real catalyst was a massive bottom-line beat;

Intel (INTC) shares rose more than 12% in extended trading on Thursday after the semiconductor company reported first-quarter results and guidance that were well above Wall Street's forecast. For the period ending March 28,

"A year ago the conversation about Intel was about whether we could survive," CEO Lip-Bu Tan said. "Today it's about how quickly we can add manufacturing capacity and scale our supply to meet enormous demand for our products.

Intel (INTC) options price a ~10% post-earnings move as traders brace for volatility, with straddles implying a $59–$71.5 range—read the setup now.