Intel Corp. (NASDAQ: INTC) topped revenue and earnings estimates for the fourth quarter of 2019, sending shares soaring 6.8% in aftermarket hours on Thursday.
Total revenue grew 8% year-over-year to $20.2 billion, beating forecasts of $19.2 billion.
GAAP net income increased 33% to $6.9 billion and EPS rose 40% to $1.58. Adjusted net income rose 13% to $6.7 billion while adjusted EPS grew 19% to $1.52. Analysts had estimated adjusted EPS of $1.25.
During the quarter, revenues in the DCG segment increased 19%, aided by strong demand from cloud service provider customers and a strong mix of high-performance 2nd-Generation Intel Xeon Scalable processors. Revenues in the IOTG division improved 13% helped by momentum in retail and transportation.
Mobileye revenues jumped 31% year-over-year due to an increase in ADAS adoption. Revenues in NSG was up 10% due to NAND and Intel Optane bit growth. PSG revenue fell 17% year-over-year. Revenues in the CCG segment increased 2% helped by higher modem sales and desktop platform volumes.
For the first quarter of 2020, Intel expects revenue of approx. $19 billion. GAAP EPS is expected to be $1.23 while adjusted EPS is expected to be $1.30. Revenue is expected to be approx. $73.5 billion for the full year of 2020. EPS, on a GAAP basis, is estimated to be $4.71 and, on an adjusted basis, is projected to be $5.00.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to