When Intel Corp. (NASDAQ: INTC) reported its most recent quarterly results after the markets closed on Thursday, the chipmaker said that it had $1.40 in earnings per share (EPS) and $19.16 billion in revenue. Consensus estimates had called for $1.15 in EPS and $18.11 billion in revenue. In the same period of last year, Intel said it had EPS of $0.96 and $16.1 billion in revenue.
Recently acquired Mobileye also achieved record quarterly revenue of $191 million, up approximately 50% year over year as customer momentum continued. Mobileye won eight new design awards at major U.S. and global automakers in the third quarter, bringing its year-to-date design win total to 20.
In terms of its segment, the company reported as follows:
- Client Computing Group revenues increased 15.5% year over year to $10.23 billion.
- Data Center Group revenues increased 25.9% to $6.14 billion.
- Internet of Things Group revenues increased 8.2% to $919 million.
- Non-Volatile Memory Solutions Group revenues increased 21.3% to $1.08 billion.
- Programmable Solutions Group revenues increased 5.8% to $496 million.
Looking ahead to the fourth quarter, the company expects to see EPS of $1.22 and revenues of at least $19.0 billion. Consensus estimates call for $1.09 in EPS and $18.39 billion in revenue for the quarter.
Bob Swan, Intel’s chief financial officer and interim CEO, commented:
Stronger than expected customer demand across our PC and data-centric businesses continued in the third quarter. This drove record revenue and another raise to our full-year outlook, which is now up more than six billion dollars from our January expectations. We are thrilled that in a highly competitive market, customers continue to choose Intel. In the fourth quarter, we remain focused on the challenge of supplying the incredible market demand for Intel products to support our customers’ growth. We expect 2018 will be another record year for Intel, and our transformation positions us to win share in an expanded $300 billion1 total addressable market.
Shares of Intel closed Thursday at $44.31, with a consensus analyst price target of $54.90 and a 52-week trading range of $42.04 to $57.60. Following the announcement, the stock was up about 1% at $44.83 in early trading indications Friday.
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