LONDON (Reuters) -Intel ( INTC ) shares rose nearly 10% in Frankfurt on Friday, a day after the company beat expectations for its third quarter profit helped by dramatic cost cutting measures.

The results were the company's first earnings announcement after multibillion-dollar investments from Nvidia and Japan's SoftBank as well as an unprecedented U.S. government stake, with investors anticipating a major cash boost.

Its shares rose around 7% in U.S. after hours trading on Thursday, and rose 9.7% in Frankfurt on Friday.