Intel Corporation (INTC – Free Report) just released its third-quarter 2017 financial results, posting earnings of 94 cents per share and revenues of $16.1 billion. Currently, INTC is a Zacks Rank #2 (Buy) and is down over 1% to $40.85 per share in after-hours trading shortly after its earnings report was released.
INTC:
Beat earnings estimates. The company posted earnings of 94 cents per share, beating the Zacks Consensus Estimate of 80 cents per share.
Beat revenue estimates. The company saw revenue figures of $16.1 billion, beating our consensus estimate of $15.71 billion.
Intel’s overall revenues rose 2% from the year-ago period, while its net income experienced a 34% gain to hit $4.5 billion.
The tech giant’s GAAP earnings jumped 36% from 69 cents per share a year ago, while non-GAAP earnings climbed 26% to $1.01 per share.
Intel’s Q3 Client Computing Group revenues were flat. Its vitally important Data Center business experienced a 7% gain to hit $4.9 billion. On top of that, revenues for Intel’s Internet of Things sector popped 23%.
The company now projects that it will post Q4 revenues of $16.3 billion. On top of that, Intel expects to post earnings of 80 cents per share. For the full-year, Intel expects $62 billion in revenues and earnings of $2.93 per share.
“We executed well in the third quarter with strong results across the business, and we’re on track to a record year,” Intel CEO Brian Krzanich said in a statement.
“I’m excited about our progress and our future. Intel’s product line-up is the strongest it has ever been with more innovation on the way for artificial intelligence, autonomous driving and more.”
Here’s a graph that looks at INTC’s Price, Consensus and EPS Surprise history:
Intel Corporation Price, Consensus and EPS Surprise
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Intel Corporation is one of the world’s largest semiconductor chip maker. The Company develops advanced integrated digital technology products, primarily integrated circuits, for industries such as computing and communications. It also develops platforms, which it defines as integrated suites of digital computing technologies that are designed and configured to work together to provide an optimized user computing solution compared to components that are used separately. Intel designs and manufactures computing and communications components, such as microprocessors, chipsets, motherboards, and wireless and wired connectivity products, as well as platforms that incorporate these components. The Company sells its products primarily to original equipment manufacturers, original design manufacturers, PC and network communications products users, and other manufacturers of industrial and communications equipment. Intel Corporation is based in Santa Clara, California.
