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Intel Corp.$51.91($.07)(.13%)

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 Intel Reports Record First-Quarter Revenue of $14.8 Billion GAAP Operating Income of $3.6 Billion, Non-GAAP Operating Income of $3.9 Billion Company Raises Full-Year Revenue and EPS Outlook
   Thursday, April 27, 2017 4:00:00 PM ET

News Summary:

  • Delivered year-over-year revenue growth, up 8 percent on a GAAP basis and 7 percent on a non-GAAP basis, and record first-quarter revenue
  • Growth businesses collectively grew double digits year-over-year; the memory business had record quarterly revenue and shipped first Intel® Optane™ products
  • Operating income was up 40 percent year-over-year on a GAAP basis and 20 percent on a non-GAAP basis and EPS was up 45 percent year-over-year on a GAAP basis and 22 percent on a non-GAAP basis, driven by higher platform average selling prices and lower platform unit cost
  • Full-year outlook for revenue was raised $500 million and EPS was raised by 5 cents to $2.85

SANTA CLARA, Calif., April 27, 2017 -- Intel Corporation today reported first-quarter revenue of $14.8 billion, up 8 percent year-over-year on a GAAP basis and 7 percent on a non-GAAP basis. Operating income was $3.6 billion, up 40 percent year-over-year, and non-GAAP operating income was $3.9 billion, up 20 percent. EPS was 61 cents, up 45 percent year-over-year, and non-GAAP EPS was 66 cents, up 22 percent.

The company also generated approximately $3.9 billion in cash from operations, paid dividends of $1.2 billion, and used $1.2 billion to repurchase 35 million shares of stock. Intel’s board of directors has approved a $10 billion increase to Intel’s share buyback program, which brings the amount currently available for future buybacks to approximately $15 billion.

“The first quarter was another record quarter, coming off a record 2016. We continued to grow our company, shipped our disruptive new Optane memory technology, and positioned Intel to lead in new areas like artificial intelligence and autonomous driving,” said Brian Krzanich, Intel CEO. “The ASP strength we saw across nearly every segment of the business demonstrates continued demand for high-performance computing, which will only increase with the explosion of data.”

For the full press release, please go here .

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