Moneycontrol Be a Pro
Get App
Last Updated : Jan 27, 2017 08:21 AM IST | Source: Reuters

Intel's quarterly revenue beats estimates

Shares of the world's largest chipmaker rose 2.2 percent to USD38.38 in extended trading on Thursday.


Intel Corp reported a 9.8 percent rise in quarterly revenue ahead of analysts' estimates, boosted by a stabilizing PC market and a rise in demand for its data centre services.


Shares of the world's largest chipmaker rose 2.2 percent to USD 38.38 in extended trading on Thursday.


Intel's net revenue rose to USD 16.37 billion from USD 14.91 billion, beating the average analysts' estimate of USD 15.75 billion, according to Thomson Reuters I/B/E/S.

Close

Revenue from the data centre business rose 8.4 percent to USD 4.67 billion in the fourth quarter, while revenue from its traditional PC business rose 4.3 percent to USD 9.13 billion.


The PC unit includes sales of chips for mobile phones and tablets.


Intel has been building its data centre, Internet of Things and automotive businesses, to reduce dependence on the PC market, which has been roiled by users' shift to mobile phones for their computing needs.


Intel, which will use New England Patriots quarterback Tom Brady to showcase its 360-degree video technology during the 2017 Super Bowl, is also driving deeper into the automotive market.


The company said earlier this month that it would acquire a stake in German digital mapping firm HERE.


"The fourth quarter was a terrific finish to a record-setting and transformative year for Intel," Chief Executive Brian Krzanich said in a statement.


Intel said it expects first-quarter revenue of USD 14.8 billion, plus or minus USD 500 million. Analysts on average were expecting USD 14.53 billion.


However, the company said its net income fell to USD 3.56 billion, or 73 cents per share, for the fourth quarter ended Dec. 31, from USD 3.61 billion, or 74 cents per share, a year earlier.


Excluding items, the company earned 79 cents per share beating estimates of 74 cents per share.

Worldwide PC shipments fell by 1.5 percent in the fourth quarter, compared with a 3.9 percent decline in the preceding quarter, according to research firm IDC, continuing the recent trend of stabilizing demand.



LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.
First Published on Jan 27, 2017 08:21 am
Loading...
Follow us on
Available On