Intel Q4 Results Trump Wall Street View
Intel Corp. (INTC) Thursday reported a profit and revenues for the fourth quarter that trumped Wall Street estimates.
Santa Clara, California-based Intel reported fourth-quarter profit of $5.9 billion or $1.42 per share, down from $6.9 billion or $1.58 per share last year.
Adjusted earnings for the quarter were $1.52 per share, same as last year. On average, 33 analysts polled by Thomson Reuters estimated earnings of $1.10 per share for the quarter.
Intel’s revenues for the quarter were down 1% to $20.0 billion from last year’s revenue of $20.2 billion. Analysts had a consensus revenue estimate of $17.5 billion for the quarter.
The company said its fourth-quarter revenues were ahead of prior expectations driven by record PC-centric revenue with PC unit volumes up 33 percent YoY led by record notebook sales.
“We significantly exceeded our expectations for the quarter, capping off our fifth consecutive record year,” said Bob Swan, Intel CEO. “Demand for the computing performance Intel delivers remains very strong and our focus on growth opportunities is paying off. It has been an honor to lead this wonderful company, and I am proud of what we have achieved as a team. Intel is in a strong strategic and financial position as we make this leadership transition and take Intel to the next level.”
Looking forward to the first quarter, Intel expects revenues of about $17.5 billion and adjusted earnings of around $1.10 per share. Analysts currently estimate earnings of $0.93 per share and revenues of $16.06 billion.
Intel also raised its dividend by 5% to $1.39 per share on an annual basis. It declared a quarterly dividend of 34.75 cents per share, payable on March 1 to shareholders of record on February 7.
INTC is currently trading at $62.46, up $3.79 or 6.46%, on the Nasdaq. The stock, however, slipped $0.96 or 1.54%, in the after-hours trading.
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