A report last month said its 18A process, which was supposed to be a "turning point" for Intel Foundry, is only achieving 10% yield rates, which industry site wccftech says makes "it impossible for the semiconductor to reach mass-production stages."

The company reported earnings before certain costs such as stock compensation of 13 cents per share, squeezing past Wall Street’s consensus estimate of 12 cents per share. Revenue for the quarter came to $14.26 billion, up 7% from a year ago and ahead of the Street’s target of $13.81 billion.

Intel shares rose 1.7% premarket on Friday as the chipmaker's quarterly revenue beat low expectations and investors focused on its search for a new CEO to steer the company through one of its most difficult periods.