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Last Update: 19-Oct-11 10:59 ET
Intel Tops Third Quarter Expectations; Sees Fourth Quarter Revenue Above Consensus
Intel (INTC $24.33 +0.93) reported third quarter earnings of $0.69 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus Estimate of $0.63.
Revenues rose 28.2% year/year to $14.23 billion versus the $13.84 billion consensus; non-GAAP gross margin -170 bps year/year to 64.4%.
For the fourth quarter, the company expects to see revenue of $14.2 billion to $15.2 billion versus the $14.21 billion Capital IQ Consensus Estimate; gross margin percentage: 65%, plus or minus a couple percentage points.
Third quarter PC Client Group revenue of $9.4 billion, up 22 percent year/year. Data Center Group revenue of $2.5 billion, up 15% year/year. The company generated approx. $6.3 billion in cash from operations, paid cash dividends of $1.1 billion, and used $4.0 billion to repurchase 186 mln shares of common stock. Intel's board of directors also voted to increase the company's buyback authorization by $10.0 billion, raising the total unused balance to $14.2 billion at the end of the third quarter. The company also completed a senior notes offering of $5.0 billion primarily for the purpose of repurchasing stock.
Revenues rose 28.2% year/year to $14.23 billion versus the $13.84 billion consensus; non-GAAP gross margin -170 bps year/year to 64.4%.
For the fourth quarter, the company expects to see revenue of $14.2 billion to $15.2 billion versus the $14.21 billion Capital IQ Consensus Estimate; gross margin percentage: 65%, plus or minus a couple percentage points.
Third quarter PC Client Group revenue of $9.4 billion, up 22 percent year/year. Data Center Group revenue of $2.5 billion, up 15% year/year. The company generated approx. $6.3 billion in cash from operations, paid cash dividends of $1.1 billion, and used $4.0 billion to repurchase 186 mln shares of common stock. Intel's board of directors also voted to increase the company's buyback authorization by $10.0 billion, raising the total unused balance to $14.2 billion at the end of the third quarter. The company also completed a senior notes offering of $5.0 billion primarily for the purpose of repurchasing stock.
