Intel (INTC) 2Q 17 earnings and First Solar (FSLR) 2Q 17 earnings were released after closing bell tonight. Intel reported non-GAAP earnings of 72 cents per share on $14.8 billion in revenue, while analysts had expected non-GAAP earnings of 68 cents per share on $14.4 billion in revenue. In last year’s second quarter, the chip maker reported 59 cents per share on $13.5 billion in sales.
First Solar posted non-GAAP earnings of 64 cents per share on $623 million in net sales, compared to the consensus estimates of 1 cent per share in losses and $556.4 million in revenue. Management had guided for a breakeven quarter, so clearly Wall Street isn’t expecting much, although Deutsche Bank predicted a huge beat.
Intel 2Q 17 earnings
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On a GAAP basis, Intel 2Q 17 earnings rose to 58 cents per share from 27 cents per share last year. Revenue from the chip maker’s Client Computing Group rose 12% year over year to $8.2 billion, while its Data Center Group increased 9% to $4.4 billion. Internet of Things Group revenue jumped 26% to $720 million, while Non-Volatile Memory Solutions Group revenue increased 58% to $874 million. Programmable Solutions Group revenue fell 5% to $440 million.
Intel also boosted its full-year guidance for earnings per share and revenue. The chip maker expects revenue of about $15.7 billion for the third quarter, plus or minus $500 million. It projects GAAP earnings of about 72 cents per share, plus or minus 5 cents, and non-GAAP earnings of 80 cents per share, also plus or minus 5 cents.
For the full year, Intel’s new guidance is $61.3 billion in sales, plus or minus $500 million. It also expects GAAP earnings of about $2.66 per share, plus or minus 5 cents a share, and non-GAAP earnings of about $3 per share, also plus or minus 5 cents per share.
After the Intel 2Q 17 earnings were released, the company’s stock jumped by as much as 1.34% to $35.44 in after-hours trades.