Intel Corporation 2Q 17, First Solar, Inc. 2Q 17 Earnings Reported


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.

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