Intel reports EPS in-line, revs in-line with lowered expectations; guides Q2 and FY15 revs in-line
Reports Q1 (Mar) earnings of $0.41 per share, in-line with the Capital IQ Consensus of $0.41; revenues rose 0.1% year/year to $12.78 bln vs the $12.83 bln consensus. PC business down, offset by growth in data center, Internet of Things (IoT) and non-volatile memory businesses
- On March 12, co lowered rev guidance to $12.5-13.1 bln from $13.2-14.2 bln citing weaker than expected demand for business desktop PCs and lower than expected inventory levels across the PC supply chain.
- Gross margin 60.5% vs. '60% plus or minus a couple percent' guidance
* Co issues in-line guidance for Q2, sees Q2 revs of $12.7-13.7 bln vs. $13.45 bln Capital IQ Consensus.
- Gross margin percentage: 62 percent, plus or minus a couple of percentage points.
* Co issues in-line guidance for FY15, sees FY15 revs of flat YoY, in-line with Capital IQ Consensus.
- Gross margin percentage: 61%, plus or minus a couple of percentage points; cap-ex to $8.2-9.2 bln from $9.5-10.5 bln; R&D plus MG&A spending: ~$19.7 bln, plus or minus $400 million.
- Co withdrew mid single digit rev growth and 62$ midpoint margin guidance when it warned last month.
Intel cut cap-ex to $8.2-9.2 bln from $9.5-10.5 bln
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