Intel (INTC) reported 2nd Quarter June 2016 earnings of $0.59 per share on revenue of $13.5 billion. The consensus earnings estimate was $0.53 per share on revenue of $13.5 billion. The Earnings Whisper number was $0.55 per share. Revenue grew 2.6% on a year-over-year basis.
The company said it expects third quarter revenue of $14.40 billion to $15.40 billion. The current consensus revenue estimate is $14.62 billion for the quarter ending September 30, 2016.
Intel Corporation is a semiconductor chip maker. It develops integrated digital technology products like integrated circuits, for industries such as computing and communications.
Intel Reports Second-Quarter Revenue of $13.5 Billion
- Revenue of $13.5 billion, up 3 percent year-over-year and consistent with outlook
- GAAP gross margin of 58.9 percent and non-GAAP gross margin of 61.8 percent exceeded outlook by almost a point
- Generated approximately $3.8 billion in cash from operations, repurchased $804 million in stock, paid $1.2 billion in dividends with a current yield of about 3 percent^^
- Restructuring initiative solidly on-track, accelerating Intel's transformation to a company powering the cloud and billions of smart, connected devices
SANTA CLARA, Calif., July 20, 2016 -- Intel Corporation today reported second-quarter GAAP revenue of $13.5 billion, operating income of $1.3 billion, net income of $1.3 billion and EPS of 27 cents. Intel reported non-GAAP operating income of $3.2 billion, net income of $2.9 billion and EPS of 59 cents. The company generated approximately $3.8 billion in cash from operations, paid dividends of $1.2 billion, and used $804 million to repurchase 26 million shares of stock.
“Second-quarter revenue matched our outlook and profitability was better than we expected," said Brian Krzanich, Intel CEO. "In addition, our restructuring initiative to accelerate Intel’s transformation is solidly on-track. We're gaining momentum heading into the second half. While we remain cautious on the PC market, we’re forecasting growth in 2016 built on strength in data center, the Internet of Things and programmable solutions.”
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