Intel Corporation (NASDAQ: INTC) has given the revenue forecast for 2017 above the average analysts’ estimates. INTC is expecting for 2017, the revenue to be flat while the analysts are conservative. Moreover, for the first quarter 2017, INTC expects the revenue of $14.8 billion, plus or minus $500 million. The analysts on average were expecting $14.53 billion.

The group has reported the adjusted earnings per share of 79 cents in the fourth quarter of 2016, above the analysts’ average estimates of 74 cents. The earnings grew due to the stabilizing PC market and growth in its data center business that offers cloud-based software services. INTC has reported the fourth quarter revenue growth of 9.8 percent to $16.37 billion, above the $15.75 billion expected as consensus revenue estimates by the analysts. The revenue from the data center business grew 8.4 percent to $4.67 billion in the fourth quarter, and the revenue from its traditional PC business grew 4.3 percent to $9.13 billion. As per the research firm IDC, the Worldwide PC shipments that include laptops, desktops and workstations fell by 1.5 percent in the fourth quarter 2016 compared with a 3.9 percent decline in the preceding quarter. INTC is expecting a similar growth rate in the cloud segment but does not expect an improvement in its enterprise unit.

The net income fell slightly to $3.56 billion, for the fourth quarter ended December 31st, 2016 from $3.61 billion, a year earlier as the company invested heavily in maintaining leadership in microprocessors for personal computers and for servers used in giant data centers.

INTC’s capital spending grew more than 31 percent to $9.6 billion last year, and it plans to increase that again to around $12 billion in 2017, as it shifts to producing chips that have finer circuitry and invests in new high-performance memory technology and technology for autonomous vehicles.

For full-year 2016, INTC’s revenue grew 7 percent but net income fell 10 percent, due to its server-chip business. INTC has announced a plan to restructure operations and cut 11 percent of its workforce, generating a $2.3 billion charge that the company expects to pay off by mid-2017. In addition, it has also agreed to sell 51% its underperforming security division to private-equity firm TPG for $4.2 billion. INTC expects the two moves will create $1 billion in savings in 2017.

INTC stock has risen 2% this morning (as of 10:46 AM EST on January 27th, 2017; Source: Google finance). INTC generated over 28.5% in the last one year.