Summary

Intel Beats

Intel (INTC) reported 2nd Quarter June 2017 earnings of $0.72 per share on revenue of $14.8 billion. The consensus earnings estimate was $0.68 per share on revenue of $14.4 billion. The Earnings Whisper number was $0.69 per share. Revenue grew 9.1% on a year-over-year basis.

The company said it expects third quarter earnings of $0.75 to $0.85 per share on revenue of $15.2 billion to $16.2 billion. The current consensus earnings estimate is $0.74 per share on revenue of $15.35 billion for the quarter ending September 30, 2017. The company also said it expects 2017 earnings of $2.85 to $3.15 per share on revenue of $60.8 billion to $61.8 billion. The company's previous guidance was earnings of $2.71 to $2.99 per share on revenue of approximately $60.0 billion and the current consensus earnings estimate is $2.86 per share on revenue of $60.19 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.

Earnings Release

Intel Reports Record Second-Quarter Revenue of $14.8 Billion GAAP Operating Income of $3.8 Billion, Non-GAAP Operating Income of $4.2 Billion Company Raises Full-Year Revenue and EPS Outlook

News Summary:

Record second-quarter revenue up 14 percent year-over-year (excluding Intel Security Group) with strong performance in client computing (up 12 percent) and data-centric* businesses (up 16 percent).
GAAP earnings per share (EPS) was $0.58 and non-GAAP EPS was $0.72, up 22 percent year-over-year driven by strong topline growth and gross margin improvement.
Intel raises full-year revenue outlook by $1.3 billion to $61.3 billion; raises full-year GAAP EPS outlook by $0.10 to $2.66 and non-GAAP EPS by $0.15 to $3.00.
Launched Intel’s highest performance products ever: the Intel® Core™ X-Series family for advanced gaming, VR and more, as well as Intel® Xeon® Scalable processors, which offer data center customers huge performance gains for artificial intelligence (AI) and other data-intensive workloads.

SANTA CLARA, Calif., July 27, 2017 -- Intel Corporation today reported second-quarter revenue of $14.8 billion, up 9 percent year-over-year. After adjusting for the Intel Security Group (ISecG) transaction, second-quarter revenue grew 14 percent from a year ago. Operating income was $3.8 billion, up 190 percent year-over-year, and non-GAAP operating income was $4.2 billion, up 30 percent. EPS was $0.58, up 115 percent year-over-year, and non-GAAP EPS was $0.72, up 22 percent.

The company also generated approximately $4.7 billion in cash from operations, paid dividends of $1.3 billion, and used $1.3 billion to repurchase 36 million shares of stock. Intel is raising its full-year revenue outlook by $1.3 billion to $61.3 billion and raising its EPS outlook to $2.66 (GAAP) and $3.00 (non-GAAP), which is a 15 cent increase over the previous guidance.

“Q2 was an outstanding quarter with revenue and profits growing double digits over last year,” said Brian Krzanich, Intel CEO. “We also launched new Intel Core, Xeon and memory products that reset the bar for performance leadership, and we’re gaining customer momentum in areas like AI and autonomous driving. With industry-leading products and strong first-half results, we’re on a clear path to another record year."

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