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Intel third-quarter earnings rise 21 percent

Posted on Tuesday, October 18 2016 @ 23:47:13 CEST by


INTC logo
Intel announced third-quarter net income of $3.4 billion, up 9 percent year-over-year, on revenue of $15.8 billion, up 9 percent year-over-year as well. Looking at the adjusted figures, earnings per share came in at 80 cents per share, up a staggering 21 percent versus the year before.
Intel Corporation today reported third-quarter GAAP revenue of $15.8 billion, operating income of $4.5 billion, net income of $3.4 billion and EPS of 69 cents. Intel reported non-GAAP operating income of $5.1 billion, net income of $3.9 billion and EPS of 80 cents. The company generated approximately $5.8 billion in cash from operations, paid dividends of $1.2 billion, and used $457 million to repurchase 13 million shares of stock.

“It was an outstanding quarter, and we set a number of new records across the business,” said Brian Krzanich, Intel CEO. “In addition to strong financials, we delivered exciting new technologies while continuing to align our people and products to our strategy. We’re executing well, and these results show Intel’s continuing transformation to a company that powers the cloud and billions of smart, connected devices."

Q3 Key Business Unit Trends
  • Client Computing Group revenue of $8.9 billion, up 21 percent sequentially and up 5 percent yearover-year
  • Data Center Group revenue of $4.5 billion, up 13 percent sequentially and up 10 percent yearover-year
  • Internet of Things Group revenue of $689 million, up 20 percent sequentially and up 19 percent year-over-year
  • Non-Volatile Memory Solutions Group revenue of $649 million, up 17 percent sequentially and down 1 percent year-over-year
  • Intel Security Group revenue of $537 million, flat sequentially and up 6 percent year-over-year
  • Programmable Solutions Group revenue of $425 million, down 9 percent sequentially
  • Despite beating earnings estimates by 8 cents a share and beating revenue projections by $200 million, Intel's shares are down 5.64 percent in after-hours trading to $35.62. Weak guidance for the fourth quarter appears to be the main reason, the chip giant is guiding fourth-quarter revenue of $15.7 billion, plus or minus $500 million, which is less than the analysts' estimate of $15.87 billion. It seems like a big after-hours punishment but even after this 5% decline Intel is still trading close to 52-week highs.



     



     

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