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Intel earnings impacted by slowing PC market

Posted on Wednesday, April 17 2013 @ 11:50:43 CEST by


Intel logo
Intel announced its Q1 2013 financial earnings, the company saw its revenue fall by 2 percent to $12.6 billion, while earnings per share fell to $2.0 billion, or 40 cents per share, from $2.7 billion, or 53 cents per share, for the same period last year. Intel's PC business revenue fell 6 percent to $8 billion, while server revenues rose 7.5 percent.
Intel Corporation today reported first-quarter revenue of $12.6 billion, operating income of $2.5 billion, net income of $2.0 billion and EPS of $0.40. The company generated approximately $4.3 billion in cash from operations, paid dividends of $1.1 billion, and used $533 million to repurchase 25 million shares of stock.

“Amidst market softness, Intel performed well in the first quarter and I’m excited about what lies ahead for the company,” said Paul Otellini, Intel president and CEO. “We shipped our next generation PC microprocessors, introduced a new family of products for micro-servers and will ship our new tablet and smartphone microprocessors this quarter. We are working with our customers to introduce innovative new products across multiple operating systems. The transition to 14nm technology this year will significantly increase the value provided by Intel architecture and process technology for our customers and in the marketplace.”

Q1 Key Financial Information and Business Unit Trends
  • PC Client Group revenue of $8.0 billion, down 6.6 percent sequentially and down 6.0 percent year-over-year.
  • Data Center Group revenue of $2.6 billion, down 6.9 percent sequentially and up 7.5 percent year-over-year.
  • Other Intel® Architecture Group revenue of $1.0 billion, down 3.9 percent sequentially and down 9.0 percent year-over-year.
  • Gross margin of 56 percent, down 2 percentage points sequentially and down 8 percentage points year-over-year.
  • R&D plus MG&A spending of $4.5 billion, in line with the company’s expectation of approximately $4.6 billion.
  • Tax rate of 16 percent.

    Business Outlook
    Intel’s Business Outlook does not include the potential impact of any business combinations, asset acquisitions, divestitures or other investments that may be completed after April 16.

    Q2 2013
  • Revenue: $12.9 billion, plus or minus $500 million.
  • Gross margin percentage: 58 percent, plus or minus a couple percentage points.
  • R&D plus MG&A spending: approximately $4.7 billion.
  • Amortization of acquisition-related intangibles: approximately $70 million.
  • Impact of equity investments and interest and other: approximately zero.
  • Depreciation: approximately $1.7 billion.

    Full-Year 2013
  • Revenue: low single-digit percentage increase, unchanged from prior expectations.
  • Gross margin percentage: 60 percent, plus or minus a few percentage points, unchanged from prior expectations.
  • R&D plus MG&A spending: $18.9 billion, plus or minus $200 million, unchanged from prior expectations.
  • Amortization of acquisition-related intangibles: approximately $300 million, unchanged from prior expectations.
  • Depreciation: $6.8 billion, plus or minus $100 million, unchanged from prior expectations.
  • Tax Rate: approximately 27 percent for each of the remaining quarters of the year.
  • Full-year capital spending: $12.0 billion, plus or minus $500 million, down $1.0 billion from prior expectations.




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