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Intel starts 2018 strong, posts record Q1 revenue of $16.1 billion

Posted on Thursday, April 26 2018 @ 23:26:14 CEST by

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Yesterday was AMD's time to shine and now Intel sends out its first-quarter earnings. Last quarter the chip giant pulled in a record first-quarter revenue of $16.1 billion, up 13 percent year-over-year. Net income came in at $4.5 billion, up 50 percent year-over-year. On an adjusted basis, earnings per share were 87 cents, an increase of 32 percent versus Q1 2017. This compares favorable to analyst estimates, revenue was over $1 billion higher than estimated, while earnings per share came in 15 cents higher.

The strong results were primarily driven by the Data Center Group, which saw a massive 24 percent increase in sales to a record $5.2 billion. Additionally, Intel also raised its guidance for Q2 2018 and the full-year. Intel now expects full-year revenue of $67.5 billion, up $2.5 billion from prior guidance.

Intel's shares are currently trading at $57.22 in after-hours trading, up 7.86 percent versus the closing bell.
News Summary:
  • Record first-quarter revenue was $16.1 billion, up 13 percent year-over-year1 on strength of Intel's data-centric* businesses, which accounted for 49 percent of first-quarter revenue.
  • Data-centric growth and operating margin leverage boosted earnings-per-share (EPS), which rose 53 percent year-over-year; non-GAAP EPS was up 32 percent year-over-year.
  • Intel is raising its full-year revenue and earnings outlook based on this strong start; expecting 2018 revenue of $67.5 billion, up $2.5 billion from prior guidance.

    SANTA CLARA, Calif., April 26, 2018 -- Intel Corporation today reported first-quarter 2018 financial results. "Coming off a record 2017, 2018 is off to a strong start. Our PC business continued to execute well and our datacentric businesses grew 25 percent, accounting for nearly half of first-quarter revenue," said Brian Krzanich, Intel CEO. "The strength of Intel’s business underscores my confidence in our strategy and the unrelenting demand for compute performance fueled by the growth of data."

    “Compared to the first-quarter expectations we set in January, revenue was higher, operating margins were stronger and EPS was better," said Bob Swan, Intel CFO. "Our data-centric strategy is accelerating Intel’s transformation, and we’re raising our earnings and cash flow expectations for the year."

    In the first quarter, the company generated approximately $6.3 billion in cash from operations, paid dividends of $1.4 billion and used $1.9 billion to repurchase 41 million shares of stock.

    In the first quarter, Intel saw strong performance from data-centric businesses, which accounted for approximately half (49%) of Intel's revenue, an all-time high. The Data Center Group (DCG) achieved growth in all market segments and saw increasing adoption of Intel® Xeon® Scalable processors, including for artificial intelligence workloads. Non-Volatile Memory Solutions Group (NSG) revenue grew 20 percent as strong demand for storage continued. The Programmable Solutions Group (PSG) won new designs with server OEMs adding Intel’s field programmable gate array (FPGA) acceleration to their data center offerings, and strong demand from retail and video customers drove first-quarter growth in the Internet of Things Group (IOTG).

    The Client Computing Group (CCG) continued its strong execution and introduced a new lineup of highperformance mobile products including the 8th Gen Intel® Core™ i9 processor and a new Intel Core platform extension that brings together the benefits of 8th Gen Intel Core processors with Intel® Optane™ memory. We continue to make 14 nm process optimizations and architectural innovations in both data center and client products that will be coming this year. Intel is currently shipping low-volume 10 nm product and now expects 10 nm volume production to shift to 2019.

    In autonomous driving, Mobileye continued momentum with automotive customers and recently won a high-volume design for EyeQ*5. The company also began operating autonomous vehicle test cars in Israel with plans to expand the fleet to other geographies.



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