Intel Corporation (INTC) Q3 2017 Data Center Revenue Beats Estimate

The company also increased its full-year guidance

By Karl Utermohlen, InvestorPlace Writer

Intel Corporation (NASDAQ:INTC) unveiled its third-quarter results after hours Thursday.

Intel Corporation (INTC)
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The company topped analysts’ expectations in various categories during the period, including in its earnings. Intel brought in $1.01 per share in profit, ahead of the Wall Street projection of 80 cents per share, according to Thomson Reuters.

Overall revenue amounted to $16.15 billion for the quarter, also beating the consensus estimate of $15.73 billion, according to Thomson Retuers. Its client computing revenue came in at $8.86 billion, ahead of the $8.68 billion analysts expected, according to StreetAccount.

A year ago, Intel’s adjusted earnings came in at 80 cents per share, while revenue was $15.78 billion. Artificial intelligence and cloud infrastructure are among the most important segments of the company moving forward.

Data center revenue was a positive for Intel as well, tallying up to $4.88 billion, compared to the StreetAccount prediction of $4.79 billion. The company posted net income of $4.52 billion, which marks a 34% year-over-year growth.

Intel’s programmable solutions group, which includes its programmable semiconductors, saw its revenue surge by 10% compared to the year-ago figure of $469 million. Its client computing business had flat revenue, while its unit sales for the business fell 7%.

For its fiscal year 2017, the company foresees its earnings are being $3.25 per share, well ahead of its previous guidance of $3.00 per share. Revenue is also higher than previously reported at $62 billion versus $61.3 billion a year ago.

INTC stock gained 2.6% after the bell Thursday.

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