Intel (INTC) Tops Q1 EPS by 1c, Offers Q2 & FY Guidance
Intel (NASDAQ: INTC) reported Q1 EPS of $0.66, $0.01 better than the analyst estimate of $0.65. Revenue for the quarter came in at $14.8 billion versus the consensus estimate of $14.81 billion.
Guidance
Q2 2017 | GAAP | Non-GAAP | Range | ||
Revenue | $14.4 billion | $14.4 billion ^ | +/- $500 million | ||
Gross margin percentage | 62% | 63% | +/- a couple pct. pts. | ||
R&D plus MG&A spending | $5.2 billion | $5.2 billion ^ | approximately | ||
Restructuring and other charges | $100 million | $0 | approximately | ||
Amortization of acquisition-related intangibles included in operating expenses | $40 million | $0 | approximately | ||
Impact of equity investments and interest and other, net | $675 million | $300 million | approximately | ||
Depreciation | $1.7 billion | $1.7 billion ^ | approximately | ||
Operating income | $3.6 billion | $3.9 billion | approximately | ||
Tax rate | 39% | 21% | approximately | ||
Earnings per share | $0.53 | $0.68 | +/- 5 cents |
Full-Year 2017 | GAAP | Non-GAAP | Range | ||
Revenue | $60 billion | $60 billion ^ | approximately | ||
Gross margin percentage | 62% | 63% | +/- a couple pct. pts. | ||
R&D plus MG&A spending | $20.5 billion | $20.5 billion ^ | approximately | ||
Restructuring and other charges | $200 million | $0 | approximately | ||
Amortization of acquisition-related intangibles included in operating expenses | $150 million | $0 | approximately | ||
Impact of equity investments and interest and other, net | $875 million | $500 million | approximately | ||
Depreciation | $7.0 billion | $7.0 billion ^ | +/- $200 million | ||
Operating income | $16.1 billion | $17.3 billion | approximately | ||
Tax rate | 27% | 22% | approximately | ||
Earnings per share | $2.56 | $2.85 | +/- 5% | ||
Full-year capital spending | $12.0 billion | $12.0 billion ^ | +/- $500 million | ||
Restructuring and Other Charges Forecast
Total restructuring and other charges are expected to be $2.1 billion, down $200 million versus previously disclosed expectations. Approximately $2.0 billion has been realized to-date.
(Street sees Q2 revenue of $4.34 billion and FY revenue of $59.93 billion)
For earnings history and earnings-related data on Intel (INTC) click here.