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Intel Corp.$51.98$.26.50%

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 Intel Reports Record Quarterly Revenue of $15.8 Billion, Up 9 Percent Year-Over-Year; Operating Profit of $4.5 Billion
   Tuesday, October 18, 2016 4:00:00 PM ET

News Summary:

  • Strong top line growth with record revenue in the Data Center Group and Internet of Things Group
  • Solid earnings with GAAP net income of $3.4 billion, up 9 percent year-over-year;
  • Delivered 21 percent year-over-year growth in non-GAAP net income driven by strong execution and demand for our products
  • GAAP gross margin of 63.3 percent and non-GAAP gross margin of 64.8 percent

SANTA CLARA, Calif., October 18, 2016 -- Intel Corporation today reported third-quarter GAAP revenue of $15.8 billion, operating income of $4.5 billion, net income of $3.4 billion and EPS of 69 cents. Intel reported non-GAAP operating income of $5.1 billion, net income of $3.9 billion and EPS of 80 cents. The company generated approximately $5.8 billion in cash from operations, paid dividends of $1.2 billion, and used $457 million to repurchase 13 million shares of stock.

“It was an outstanding quarter, and we set a number of new records across the business,” said Brian Krzanich, Intel CEO. “In addition to strong financials, we delivered exciting new technologies while continuing to align our people and products to our strategy. We’re executing well, and these results show Intel’s continuing transformation to a company that powers the cloud and billions of smart, connected devices."

For the full press release, please go here

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