Intel (INTC) Crushes Q3 Views: Revenue Up 29%, EPS Up 33%
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Research and development: 3.07B
Today's EPS Names:
EDXC, BICX, FBPI, More
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Shares of Intel (Nasdaq: INTC) are sharply higher in after-hours trading Tuesday after the company posted better-than-expected third-quarter results.
The chip giant reported revenue for the quarter rose 29 percent from last year to a record $14.3 billion. The number easily beat the Wall Street consensus of $13.9 billion.
Net income rose 24 percent to a record $3.7 billion. EPS rose 33 percent to $0.69 per share. This beat the Wall Street consensus of $0.61.
Intel also announced its buyback authorization was raised by $10 billion, boosting the total unused balance to $14.2 billion.
"Intel delivered record-setting results again in Q3, surpassing $14 billion in revenue for the first time, driven largely by double-digit unit growth in notebook PCs," said Paul Otellini, Intel president and CEO. "We also saw continued strength in the data center fueled by the ongoing growth of mobile and cloud computing."
The one weak spot for Intel was gross margin which at 64.4 percent was down 1.7 from last year.
Shares of Intel are trading up more than 4 percent to $24.42 in after-hours action Tuesday.
The chip giant reported revenue for the quarter rose 29 percent from last year to a record $14.3 billion. The number easily beat the Wall Street consensus of $13.9 billion.
Net income rose 24 percent to a record $3.7 billion. EPS rose 33 percent to $0.69 per share. This beat the Wall Street consensus of $0.61.
Intel also announced its buyback authorization was raised by $10 billion, boosting the total unused balance to $14.2 billion.
"Intel delivered record-setting results again in Q3, surpassing $14 billion in revenue for the first time, driven largely by double-digit unit growth in notebook PCs," said Paul Otellini, Intel president and CEO. "We also saw continued strength in the data center fueled by the ongoing growth of mobile and cloud computing."
The one weak spot for Intel was gross margin which at 64.4 percent was down 1.7 from last year.
Shares of Intel are trading up more than 4 percent to $24.42 in after-hours action Tuesday.
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