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Pro-Trader Daily: Earnings Review and Free Research Report: Intel's Quarterly Revenue Grew 9%; Adjusted EPS Jumped 22%

Research Desk Line-up: Microchip Technology Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 8, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Intel Corp. (NASDAQ: INTC), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=INTC, following the Company's disclosure of its second quarter fiscal 2017 results on July 27, 2017. The chipmaker surpassed top- and bottom-line expectations and also raised its sales and earnings forecasts for fiscal 2017. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Semiconductor - Broad Line industry. Pro-TD has currently selected Microchip Technology Incorporated (NASDAQ: MCHP) for due-diligence and potential coverage as the Company announced on August 03, 2017, its financial results for Q1 FY18. Register for a free membership today, and be among the early birds that get access to our report on Microchip Technology when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on INTC; also brushing on MCHP. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/'symbol=INTC

http://protraderdaily.com/optin/'symbol=MCHP

Earnings Reviewed

For the quarter ended July 01, 2017, Intel reported revenue of $14.8 billion, up 9% compared to revenue of $13.5 billion in Q2 2016. Post adjusting for the Intel Security Group (ISecG) transaction, the Company's reported quarter revenue grew 14% on a y-o-y basis. Intel's revenue numbers exceeded analysts' estimates of $14.41 billion.

During Q2 2017, Intel's gross margin grew 2.7 points to 61.6% compared to 58.9% in Q2 2016. Intel's operating income rocketed 190% to $3.8 billion in Q2 2017 compared to $1.3 billion in Q2 2016. The Company's non-GAAP operating income was $4.2 billion, up 30% on a y-o-y basis.

For Q2 2017, Intel reported net income of $2.8 billion, or $0.58 per diluted share, compared to net income of $1.3 billion, or $0.27 per share. The Company's non-GAAP earnings were $0.72 per share, up 22% on a y-o-y basis, and was driven by strong top-line growth and gross margin improvement. Intel's earnings numbers topped Wall Street's estimates of $0.68 per share.

Segment Results

During Q2 2017, Intel's Client Computing Group (CCG) reported revenue of $8.2 billion, reflecting a growth of 12% on a y-o-y basis. The Company stated that Client ASPs grew 8% on a y-o-y basis as it continues to see strength in the gaming segment and strong Core mix. The CCG segment's operating profit surged 58% to $3.09 billion.

Intel's Data Center Group (DCG) recorded revenue of $4.4 billion for Q2 2017, up 9% on a y-o-y basis. The DCG segment's operating profit of $1.7 billion fell 6% on a y-o-y basis. The Company stated that operating margin percentage was impacted by increased technology development costs and higher artificial intelligence and adjacency spending.

For Q2 2017, Intel's Internet of Things (IoT) business' revenue surged 26% to $720 million, driven by strength in industrial and video and continued momentum in the Company's automotive business. The segment's operating profit was $139 million, up 56% on a y-o-y basis.

Intel's Memory business generated record revenue of $874 million, up 58% on a y-o-y basis, with strong demand from data center SSD solutions and demand signals outpacing supply. This segment had an operating loss of $110 million largely driven by costs associated with 3D XPoint and start-up costs for its memory capacity. The Company's Programmable Solutions Group had revenue of $440 million, down 5% on a y-o-y basis, while its operating profit was $97 million flat on a y-o-y basis, post acquisition-related impacts.

Cash Matters

During Q2 2017, Intel generated approximately $4.7 billion in cash from operations, paid dividends of $1.3 billion, and used $1.3 billion to repurchase 36 million shares of stock. Additionally, the Company also received cash of approximately $900 million as a portion of its Intel Security divestiture. Intel also generated approximately $1.3 billion from the sales of some of its interest in ASML, which generated $796 million of pre-tax gains. At the end of Q2 2017, Intel's cash and long-term investments were $34 billion, up $11 billion, and total debt was $32 billion.

Outlook

Intel raised its FY17 revenue forecasts by $1.3 billion to $61.3 billion and also increased its earnings estimates to $2.66 per share on a GAAP basis and $3.00 per share on a non-GAAP basis, which is a $0.15 per share increase on the previously provided outlook.

Stock Performance

On Monday, August 07, 2017, the stock closed the trading session at $36.43, slightly climbing 0.36% from its previous closing price of $36.30. A total volume of 18.15 million shares have exchanged hands. Intel's stock price advanced 7.53% in the last one month, 0.44% in the past six months, and 4.15% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 0.44%. The stock is trading at a PE ratio of 13.96 and has a dividend yield of 2.99%. The stock currently has a market cap of $172.08 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

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CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

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