Intel CEO Brian Krzanich (Photo: Intel)

Intel reported quarterly earnings on Thursday that handily beat estimates and also said it would boost its dividend to shareholders. Growth in chips for data centers helped offset its declining core business powering personal computers.

Why it matters: In addition to a long-slumping PC business, Intel is also dealing with the impact from a massive chip vulnerability.

Intel reported sales of $17.1 billion and per-share earnings of $1.08. excluding certain items including a big tax-related charge. The company was expected to post earnings of around 86 cents per share, on revenue of about $16.3 billion, according to Zacks.

What they're saying: "Compared to the expectations we set, our revenue was stronger, our operating margins were higher, and our spending was lower," Intel CFO Bob Swan said in a statement. “Intel's PC-centric business continued to execute well in a declining market while the growth of our data-centric businesses shows Intel's transformation is on track."

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1 hour ago - World

Macron visits Beirut promising a "new political pact" for Lebanon

Macron visits the hard-hit Gemmayzeh neighborhood. Photo: AFP via Getty Images

French President Emmanuel Macron walked through the blast-damaged streets of Beirut on Thursday, swarmed by people chanting for the fall of Lebanon's government and pleading for international aid.

Why it matters: Lebanon is at a breaking point. Its economy was collapsing and its government hardly functioning — all before a massive explosion destroyed swathes of the capital city, including its vital port.

1 hour ago - Sports

The PGA Championship is golf's first major in over a year

Photo: Gary Kellner/PGA of America via Getty Images

The 2020 PGA Championship tees off Thursday at San Francisco's TPC Harding Park, which is hosting its first-ever major.

Why it matters: It's the first major in more than a year — and the first of seven majors in the next 12 months. Though there won't be any fans in attendance, the excitement is palpable.

July's jobs report could be an inflection point for the coronavirus recovery

Illustration: Sarah Grillo/Axios

Even if Friday's jobs report shows a big number, it is becoming clear hiring slowed and likely even reversed course in July and real-time indicators suggest the employment situation worsened into August.

Driving the news: Payroll processor ADP's monthly jobs report showed private companies added 167,000 jobs last month, well below the 1.2 million expected by economists and far below June's 4.8 million jobs added.