Intel (INTC) reported 1st Quarter March 2017 earnings of $0.66 per share on revenue of $14.8 billion. The consensus earnings estimate was $0.65 per share. The Earnings Whisper number was $0.68 per share. Revenue grew 8.0% on a year-over-year basis.
The company said it expects second quarter earnings of $0.63 to $0.73 per share on revenue of $13.9 billion to $14.9 billion. The current consensus earnings estimate is $0.64 per share on revenue of $14.30 billion for the quarter ending June 30, 2017. The company said it expects 2017 earnings of $2.71 to $2.99 per share on revenue of approximately $60.0 billion. The company's previous guidance was earnings of $2.66 to $2.94 per share on revenue of approximately $59.4 billion and the current consensus earnings estimate is $2.80 per share on revenue of $59.82 billion for the year ending December 31, 2017.
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 Record First-Quarter Revenue of $14.8 Billion
GAAP Operating Income of $3.6 Billion, Non-GAAP Operating Income of $3.9 Billion
Company Raises Full-Year Revenue and EPS Outlook
- Delivered year-over-year revenue growth, up 8 percent on a GAAP basis and 7 percent on a non-GAAP basis,
and record first-quarter revenue
Growth businesses collectively grew double digits year-over-year; the memory business had record quarterly
revenue and shipped first Intel® Optane™ products
Operating income was up 40 percent year-over-year on a GAAP basis and 20 percent on a non-GAAP basis
and EPS was up 45 percent year-over-year on a GAAP basis and 22 percent on a non-GAAP basis, driven by
higher platform average selling prices and lower platform unit cost
Full-year outlook for revenue was raised $500 million and EPS was raised by 5 cents to $2.85
SANTA CLARA, Calif., April 27, 2017 -- Intel Corporation today reported first-quarter revenue of $14.8 billion, up 8
percent year-over-year on a GAAP basis and 7 percent on a non-GAAP basis. Operating income was $3.6 billion,
up 40 percent year-over-year, and non-GAAP operating income was $3.9 billion, up 20 percent. EPS was 61 cents,
up 45 percent year-over-year, and non-GAAP EPS was 66 cents, up 22 percent.
The company also generated approximately $3.9 billion in cash from operations, paid dividends of $1.2 billion, and
used $1.2 billion to repurchase 35 million shares of stock. Intel’s board of directors has approved a $10 billion
increase to Intel’s share buyback program, which brings the amount currently available for future buybacks to
approximately $15 billion.
“The first quarter was another record quarter, coming off a record 2016. We continued to grow our company,
shipped our disruptive new Optane memory technology, and positioned Intel to lead in new areas like artificial
intelligence and autonomous driving,” said Brian Krzanich, Intel CEO. “The ASP strength we saw across nearly
every segment of the business demonstrates continued demand for high-performance computing, which will only
increase with the explosion of data.”
For the full press release, please go here.