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Microsoft CEO Satya Nadella. Photo: Microsoft

PC giants Intel and Microsoft turned in better-than-expected financial results on Thursday even as the companies that rely on smartphones warned of sluggish demand.

The bottom line: In both cases, it was their data center businesses, not PCs, fueling the growth. That said, it must come as some comfort to executives and long-term shareholders as both companies have taken lots of lumps for missing out on the mobile wave.

Intel: The chipmaker posted $4.2 billion in adjusted earnings, or 87 cents per share, on revenue of $16.1 billion. That compares with expectations of 71 cents in per-share earnings on revenue of around $15 billion, according to Zacks. Intel also hiked its full-year revenue and earnings forecasts.

Shares soared after-hours, with shares trading recently at $57.40, up $4.35, or more than 8%.

Microsoft: The software giant posted earnings of 95 cents per share on revenue of $26.8 billion. That was ahead of Wall street's estimates of 85 cents per share, on revenue of $25.7 billion. Investors weren't fully satisfied, though. Shares were down slightly after hours, changing hands recently at $92.32, down $1.94 or 2%.

Go deeper

Broncos and 49ers the latest NFL teams impacted by coronavirus crisis

From left, Denver Broncos quarterbacks Drew Lock, Brett Rypien and Jeff Driskel during an August training session at UCHealth Training Center in Englewood, Colorado. Photo: Justin Edmonds/Getty Images

The COVID-19 pandemic has thrown the NFL season into chaos, with the Denver Broncos' quarterbacks sidelined, the San Francisco 49ers left without a home or practice ground and much of the Baltimore Ravens team unavailable, per AP.

Driving the news: The Broncos confirmed in a statement Saturday night that quarterbacks Drew Lock, Brett Rypien and Blake Bortles were identified as "high-risk COVID-19 close contacts" and will follow the NFL's mandatory five-day quarantine, making them ineligible for Sunday's game against New Orleans.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: McConnell temporarily halts in-person lunches for GOP caucus.
  3. Economy: Safety nets to disappear in DecemberAmazon hires 1,400 workers a day throughout pandemic.
  4. Education: U.S. public school enrollment drops as pandemic persists.
  5. Cities: Surge in cases forces San Francisco to impose curfew — Los Angeles County issues stay-at-home order, limits gatherings.
  6. Sports: NFL bans in-person team activities Monday, Tuesday due to COVID-19 surge — NBA announces new coronavirus protocols.
  7. World: London police arrest more than 150 during anti-lockdown protests — Thailand, Philippines sign deal with AstraZeneca for vaccine.

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.