Revenues were $16.1 billion for the third quarter, compared to analyst estimates of $15.73 billion.
- Intel's third-quarter results beat analysts' expectations.
- Revenues were up 2% from the same quarter last year.
- Earnings per share were up 26% from the same quarter last year.
The company earned $4.5 billion, or 94 cents a share, in the quarter on $16.1 billion in sales. Excluding certain expenses, it would have earned $4.8 billion, or $1.01 a share. Its revenue was up 2% from the third-quarter last year, while its adjusted earnings per share were up 26%.
Those results topped Wall Street's forecasts for both its top and bottom lines. Meanwhile, it offered a better-than-expected forecast for its fourth quarter.
Investors seemed mildly pleased with the news. In after-hours trading following the report, Intel shares were up 50 cents, or more than 1%, to $41.85.
From a high level, here's what Intel reported:
- Revenue: $16.1 billion. Analysts were expecting $15.73 billion.
- Earnings per share (adjusted): $1.01. Analyst were looking for $0.80 a share.
- Projected fourth-quarter revenues: $16.3 billion. Analysts had forecast $16.1 billion.
- Projected fourth-quarter earnings per share (adjusted): $0.86. Analysts had called for $0.83 a share.
- Projected revenues for 2017: $62 billion. Analysts had previously predicted $61.4 billion.
- Projected earnings per share for 2017 (adjusted): $3.25. Analysts were calling for $3.01 a share.
Intel's third-quarter revenue was driven by strong performance from several of its business lines. Its data center revenue was up 7% from the same period last year to $4.9 billion. Revenue from its Internet of Things group was up 23% over the same time period to $849 million. And its memory group saw revenue jump 37% to $891 million.
The company's programmable solutions group, which includes its programmable semiconductors, saw its revenue rise 10% in the quarter from the year-ago period to $469 million.
But not all of Intel's business lines performed well in the period. Its client computing business — the group which includes Intel's chips for desktops, phones and tablets — had nearly flat revenue in the quarter compared with the year-ago period. And unit sales for the business declined 7%.