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Intel Reports Record Quarterly Revenue of $15.8 Billion, Up 9 Percent Year-Over-Year; Operating Profit of $4.5 Billion

News Summary:

  • Strong top line growth with record revenue in the Data Center Group and Internet of Things Group
  • Solid earnings with GAAP net income of $3.4 billion, up 9 percent year-over-year
  • Delivered 21 percent year-over-year growth in non-GAAP net income driven by strong execution and demand for our products
  • GAAP gross margin of 63.3 percent and non-GAAP gross margin of 64.8 percent

SANTA CLARA, Calif., October 18, 2016 -- Intel Corporation today reported third-quarter GAAP revenue of $15.8 billion, operating income of $4.5 billion, net income of $3.4 billion and EPS of 69 cents. Intel reported non-GAAP operating income of $5.1 billion, net income of $3.9 billion and EPS of 80 cents. The company generated approximately $5.8 billion in cash from operations, paid dividends of $1.2 billion, and used $457 million to repurchase 13 million shares of stock.

"It was an outstanding quarter, and we set a number of new records across the business," said Brian Krzanich, Intel CEO. "In addition to strong financials, we delivered exciting new technologies while continuing to align our people and products to our strategy. We're executing well, and these results show Intel's continuing transformation to a company that powers the cloud and billions of smart, connected devices."

Q3 Key Business Unit Trends

  • Client Computing Group revenue of $8.9 billion, up 21 percent sequentially and up 5 percent year-over-year
  • Data Center Group revenue of $4.5 billion, up 13 percent sequentially and up 10 percent year-over-year
  • Internet of Things Group revenue of $689 million, up 20 percent sequentially and up 19 percent year-over-year
  • Non-Volatile Memory Solutions Group revenue of $649 million, up 17 percent sequentially and down 1 percent year-over-year
  • Intel Security Group revenue of $537 million, flat sequentially and up 6 percent year-over-year
  • Programmable Solutions Group revenue of $425 million, down 9 percent sequentially
GAAP Financial Comparison
Quarterly Year-Over-Year
  Q3 2016 Q3 2015 vs. Q3 2015
Revenue $15.8 billion $14.5 billion up 9%
Gross Margin 63.3% 63.0% up 0.3 point
R&D and MG&A $5.1 billion $4.8 billion up 5%
Operating Income $4.5 billion $4.2 billion up 6%
Tax Rate 21.8% 26.9% down 5.1 points
Net Income $3.4 billion $3.1 billion up 9%
Earnings Per Share 69 cents 64 cents up 8%


Non-GAAP Financial Comparison
Quarterly Year-Over-Year
  Q3 2016 Q3 2015 vs. Q3 2015
Revenue $15.8 billion ^ $14.5 billion ^ up 9%
Gross Margin 64.8% 63.5% up 1.3 points
R&D and MG&A $5.1 billion ^ $4.8 billion ^ up 5%
Operating Income $5.1 billion $4.4 billion up 18%
Net Income $3.9 billion $3.2 billion up 21%
Earnings Per Share 80 cents 66 cents up 21%


GAAP Financial Comparison
Quarterly Sequential
  Q3 2016 Q2 2016 vs. Q2 2016
Revenue $15.8 billion $13.5 billion up 17%
Gross Margin 63.3% 58.9% up 4.4 points
R&D and MG&A $5.1 billion $5.2 billion down 1%
Operating Income $4.5 billion $1.3 billion up 239%
Tax Rate 21.8% 20.4% up 1.4 points
Net Income $3.4 billion $1.3 billion up 154%
Earnings Per Share 69 cents 27 cents up 156%


Non-GAAP Financial Comparison
Quarterly Sequential
  Q3 2016 Q2 2016 vs. Q2 2016
Revenue $15.8 billion ^ $13.5 billion^ up 17%
Gross Margin 64.8% 61.8% up 3.0 points
R&D and MG&A $5.1 billion ^ $5.2 billion^ down 1%
Operating Income $5.1 billion $3.2 billion up 60%
Net Income $3.9 billion $2.9 billion up 36%
Earnings Per Share 80 cents 59 cents up 36%

Intel Corporation

Symbol: INTC
35.76 4:00 PM ET
12/09/16
+0.06 (+0.17%)
Volume 16.33 B
Market Cap 169.50 B
52 Week High 38.36
52 Week Low 27.68

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