Intel shares rise on better than expected third-quarter results

Posted on Thursday, October 24 2019 @ 23:23 CEST by Thomas De Maesschalck
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Intel just posted its third quarter financial results. The chip giant saw its client computing group revenue slide 5 percent year-over-year but revenue in all other units was up. Intel recorded $19.2 billion in revenue and earnings per share of $1.24. The company beat analyst estimates ($18.83 billion revenue and $1.21 EPS) and raised its full-year revenue outlook to $71 billion, up $1.5 billion versus July guidance. Intel's shares are currently up 3.24 percent in after-hours trading to $53.92.
Third-quarter revenue of $19.2 billion set a new record and exceeded July guidance, driven by record datacentric revenue, which grew 6 percent year-over-year (YoY). PC-centric revenue declined 5 percent YoY, consistent with guidance.

  • Third-quarter earnings-per-share (EPS) exceeded July guidance. GAAP EPS of $1.35 declined 2 percent YoY; non-GAAP EPS of $1.42 was up 1 percent.
  • Year-to-date, Intel has generated a record $23.3 billion cash from operations, generated $11.7 billion of free cash flow and returned approximately $14.3 billion to shareholders.
  • Raising full-year revenue outlook to $71 billion, up $1.5 billion from July guidance. Now expecting full-year GAAP EPS of $4.42 and raising full-year non-GAAP EPS outlook to $4.60.

    “We've been on a multiyear journey to reposition Intel’s portfolio to take advantage of the exponential growth of data. Our third-quarter financial performance underscores our progress as our data-centric businesses turned in their best performance ever, making up almost half our total revenue in a record quarter,” said Bob Swan, Intel CEO. “Our priorities are accelerating growth, improving our execution and deploying capital for attractive returns. We now expect to deliver a fourth record year in a row.”
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    About the Author

    Thomas De Maesschalck

    Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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