Intel Corp. (INTC - Free Report) just released its third quarter fiscal 2016 earnings results, posting non-GAAP earnings of 80 cents per share and revenue of $15.8 billion. Currently, INTC is a Zacks Rank #1 (Strong Buy), and is down 3.5% to $36.47 per share in after-hours trading shortly after its earnings report was released.
Beats earnings estimates. The company posted non-GAAP earnings of 80 cents per share, topping the Zacks Consensus Estimate of 73 cents per share. This number excludes 11 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $15.78 billion, surpassing our consensus estimate of $15.554 billion and gaining 9% year-over-year.
Reported Internet of Things Group revenue of $689 million, up 20% sequentially and up 19% year-over-year. Data Center Group revenue came in at $4.5 billion, up 10% year-over-year, while Client Computing Group revenue was $8.9 billion, up 5% year-over-year.
Intel posted non-GAAP operating income of $5.1 billion and net income of $3.9 billion.
“It was an outstanding quarter, and we set a number of new records across the business,” said Brian Krzanich, Intel CEO. “In addition to strong financials, we delivered exciting new technologies while continuing to align our people and products to our strategy. We’re executing well, and these results show Intel’s continuing transformation to a company that powers the cloud and billions of smart, connected devices."
Here’s a graph that looks at Intel’s price, consensus, and EPS surprise:
Intel Corporation is one of the world's largest semiconductor chip maker. The Company develops advanced integrated digital technology products, primarily integrated circuits, for industries such as computing and communications. It also develops platforms, which it defines as integrated suites of digital computing technologies, that are designed and configured to work together to provide an optimized user computing solution compared to components that are used separately. Intel Corporation is based in Santa Clara, California.
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