16:15 | INTC | (34.97 +0.22)
Intel beats by $0.04, beats on revs; guides Q3 EPS and revenue above consensus; raises FY17 EPS and rev above consensus
Reports Q2 (Jun) earnings of $0.72 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.68; revenues rose 9.1% year/year to $14.76 bln vs the $14.39 bln Capital IQ Consensus.
Client Computing +12% to $8.2 bln
Data Center +9% to $4.4 bln
IoT +26% to $720 mln
Non-Vol Memory +58% to $874 mln
Programmable -5% to $440 mln
Co issues upside guidance for Q3, sees EPS of $0.75-0.85, excluding non-recurring items, vs. $0.74 Capital IQ Consensus Estimate; sees Q3 revs of $15.2-16.2 bln vs. $15.33 bln Capital IQ Consensus Estimate.
Co issues upside guidance for FY17 based on strong first-half results and higher expectations for the PC business, raises EPS $0.15 to $2.85-3.15, excluding non-recurring items, vs. $2.86 Capital IQ Consensus; raises FY17 revs $1.3 bln to $60.8-61.8 bln vs. $60.22 bln Capital IQ Consensus Estimate.
"Q2 was an outstanding quarter with revenue and profits growing double digits over last year," said Brian Krzanich, Intel CEO. "We also launched new Intel Core, Xeon and memory products that reset the bar for performance leadership, and we're gaining customer momentum in areas like AI and autonomous driving. With industry-leading products and strong first-half results, we're on a clear path to another record year."