Free Research Report as Intel Corp. Delivers Record Revenue; Raised Guidance
Stock Monitor: NeoPhotonics Post Earnings Reporting
LONDON, UK / ACCESSWIRE / November 27, 2017 / Active-Investors' free earnings report on Intel Corp. (NYSE: INTC) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=INTC. The Company posted its financial results on October 26, 2017, for the third quarter fiscal 2017. The world's second largest semiconductor chip maker exceeded earnings and revenue expectations. Register today and get free access to our complimentary member's area where many more reports are available: www.active-investors.com/registration-sg.
Active-Investors.com is currently working on the research report for NeoPhotonics Corporation (NYSE: NPTN), which also belongs to the Technology sector as the Company Intel. Do not miss out and become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=NPTN.
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Intel most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at: www.active-investors.com/registration-sg/?symbol=INTC.
Earnings Highlights and Summary
For three months ended September 30, 2017, Intel's net revenues increased 2% to $16.15 billion from $15.8 billion in Q3 FY16. Net revenue surpassed analysts' expectation of $15.7 billion.
During Q3 FY17, the Company's gross margin decreased 1pt to 62.3% from 63.3% in the same period last year. For the reported quarter, the Company's gross margin increased to $10.05 billion from $9.88 billion of revenue in Q3 FY16.
During Q3 FY17, the Company's operating income increased 15% to $5.12 billion from $ 4.5 billion in the same period last year. For the reported quarter, the Company's net income increased 34% to $4.5 billion from $3.4 billion in the third quarter of last year.
For the reported quarter, Intel's EPS increased 36% to $0.94 on a y-o-y basis from $0.69 in Q3 FY16. The Company's non-GAAP diluted EPS increased 26% to $1.01 on a y-o-y basis from $0.80 in the same period last year. Diluted GAAP EPS exceeded analysts' expectations of $0.72.
Segment Details
Client Computing Group (CCG) - During Q3 FY17, the Company's CCG segment's revenue was almost flat at $8.86 billion compared to $8.89 billion in the same period last year. This segment's reported quarter's Notebook platform volumes grew 1% on a y-o-y basis, while Desktop volumes declined 6% on a y-o-y basis. CCG's operating income increased by 8% to $3.60 billion and operating margin increased 9% to $3.6 billion from $3.3 billion in the same period last year.
Data Center Group (DCG) - During Q3 FY17, the DCG segment's revenue increased 7% to $4.88 billion from $4.54 billion in Q3 FY16. For the reported quarter, the segment's operating income advanced 7% and operating margin increased 10% to $2.3 billion from $2.1 billion compared to Q3 FY16.
Internet of Things Group - During Q3 FY17, the Internet of Things segment's revenue surged 23% to $849 million from $689 million in Q3 FY16. For the reported quarter, the segment's operating margin decreased by 24% and operating income decreased to $146 million compared to $191 million in Q3 FY16, due to higher investments.
Non-Volatile Memory Solutions Group - During Q3 FY17, the Company's Non-Volatile Memory Solutions segment's revenue increased 37% to $891 million from $649 million in the same period last year. For the reported quarter, the segment's operating margin improved by 61%, while operating income was negative $52 million compared to $134 million in Q3 FY16.
Programmable Solutions Group - During Q3 FY17, the Company's Programmable Solutions segment's revenue increased 10% to $469 million from $425 million in the same period last year. For the reported quarter, the segment's operating income up by 44% to $113 million from $78 million. Growth was driven by Data Center, Industrial, and Military segments.
Balance Sheet
As on September 30, 2017, Intel's cash and cash equivalents increased 65% to $9.1 billion from $5.5 billion on December 31, 2016. For the reported quarter, the Company's long-term debt decreased 24% to $31.6 billion from $25.3 billion in Q4 FY16.
During Q3 FY17, the company generated approximately $6.3 billion in cash from operations, paid dividends of $1.3 billion, and used $1.1 billion to repurchase 31 million shares of stock.
Outlook
Intel expects Q4 FY17 revenue to be around $16.3 billion, +/- 500 million; and gross margin percentage of 61%. The Company's GAAP EPS is expected to be around $0.80 and non-GAAP EPS to be $0.86, +/- $0.05.
The Company's fiscal 2017 revenue is expected to be in the range of $62.0 billion, +/- 500 million, operating income is estimated to be $17.3 billion approximately with expected EPS at $2.93, and non-GAAP EPS projected at $3.25, +/-$0.05.
Stock Performance Snapshot
November 24, 2017 - At Friday's closing bell, Intel's stock slightly climbed 0.22%, ending the trading session at $44.75.
Volume traded for the day: 6.47 million shares.
Stock performance in the last month – up 9.74%; previous three-month period – up 29.07%; past twelve-month period – up 27.13%; and year-to-date – up 23.38%
After last Friday's close, Intel's market cap was at $208.96 billion.
Price to Earnings (P/E) ratio was at 15.68.
The stock has a dividend yield of 2.44%.
The stock is part of the Technology sector, categorized under the Semiconductor - Broad Line industry. This sector was up 0.6% at the end of the session.
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