View INTC Q3 Earnings Report

Highlights (GAAP results):

• On a Non-GAAP basis, revenue was $14.3 billion, operating income was $5.1 billion, net income was $3.7 billion and EPS was 69 cents. On a GAAP basis, the company reported third-quarter revenue of $14.2 billion, operating income of $4.8 billion, net income of $3.5 billion and EPS of 65 cents.
• The company generated approximately $6.3 billion in cash from operations, paid cash dividends of $1.1 billion, and used $4.0 billion to repurchase 186 million shares of common stock. Intel’s board of directors also voted to increase the company’s buyback authorization by $10.0 billion, raising the total unused balance to $14.2 billion at the end of the third quarter. The company also completed a senior notes offering of $5.0 billion primarily for the purpose of repurchasing stock.
• Business unit trends:
  • PC Client Group revenue of $9.4 billion, up 22 percent year-over-year.
    
  • Data Center Group revenue of $2.5 billion, up 15 percent year-over-year.
    
  • Other Intel® architecture group revenue up 68 percent year-over-year.
    
  • Intel® Atom™ microprocessor and chipset revenue of $269 million, down 32 percent year-over-year.
    
• McAfee Inc. and Intel Mobile Communications contributed revenue of $1.1 billion.
  
• The platform average selling price (ASP) was up year-over-year and flat sequentially.
  
• Gross margin was 63.4 percent, 0.6 percent below the midpoint of the company’s expectation.
  
• R&D plus MG&A spending was $4.2 billion, slightly below the company’s expectation.
  
• Net gain of $107 million from equity investments and interest and other, consistent with the company’s expectations of approximately $100 million.
  
• The effective tax rate was 29 percent, above the company’s expectation of approximately 28 percent.
  
• The company used $4.0 billion to repurchase 186 million shares of common stock.

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Intel's website

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