Intel Posts Q1 Earnings Beat, Internet of Things Revenue Up 11%

Intel Corp. (INTC Free Report) simply launched its first-quarter fiscal 2017 monetary outcomes, posting earnings of 66 cents per share and revenues of $14.eight billion. Currently, INTC is a #four (Sell), and is down four.three% to $35.82 per share in buying and selling shortly after its earnings report was launched.

Beat earnings estimates. The firm reported earnings of 66 cents per share, beating the Zacks Consensus Estimate of 65 cents per share. This quantity excludes 5 cents from non-recurring objects.

Matched income estimates. The firm noticed income figures of $14.eight billion, matching our consensus estimate of $14.807 billion and growing eight% year-over-year on a GAAP foundation and seven% year-over-year on a non-GAAP foundation.

Intel’s Internet of Things Group income was $721 million, up 11%, whereas its Client Computing Group income got here in at $eight billion, up 6%.

Looking forward, Intel raised its full-year 2017 income outlook by $500 million and now expects gross sales of roughly $60 billion. The firm additionally raised its full-year EPS by 5 cents to $2.85 per share.

“The first quarter was one other document quarter, coming off a document 2016. We continued to develop our firm, shipped our disruptive new Optane reminiscence know-how, and positioned Intel to guide in new areas like synthetic intelligence and autonomous driving,” stated Brian Krzanich, Intel CEO. “The ASP power we noticed throughout practically each phase of the enterprise demonstrates continued demand for high-performance computing, which can solely enhance with the explosion of information.”

Here’s a graph that appears at Intel’s value, consensus, and EPS shock:

Intel is one of the world’s largest semiconductor chip makers. The Company develops superior built-in digital know-how merchandise, primarily built-in circuits, for industries corresponding to computing and communications. It additionally develops platforms, which it defines as built-in suites of digital computing applied sciences which can be designed and configured to work collectively to supply an optimized person computing resolution in comparison with elements which can be used individually. Intel relies in Santa Clara, California.

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