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 Channel Futures

Sales & Marketing


Intel Q3 Tops Sales, Earnings Estimates

  • Written by DH Kass 1
  • October 17, 2014

Chip giant Intel (INTC), widely regarded as the bellwether of PC health, posted $14.55 billion in sales and earned $3.3 billion, or 66 cents a share, for its Q3, besting analysts estimates in both topline figures.

Chip giant Intel (INTC), widely regarded as the bellwether of PC health, posted $14.55 billion in sales and earned $3.3 billion, or 66 cents a share, for its Q3, besting analysts’ estimates in both topline figures.

Overall, Intel’s sales for the period rose 8 percent year over year while its net income climbed 12 percent and per-share earnings ticked up by 14 percent from the same time last year. Intel ended the quarter with $5.7 billion in cash as it paid out $1.1 billion in dividends and used $4.2 billion to buy back some 122 million shares.

“We are pleased by the progress the company is making,” said Intel chief executive Brian Krzanich. “We achieved our best-ever revenue and strong profits in the third quarter. There is more to do, but our results give us confidence that we’re successfully executing to our strategy of extending our products across a broad range of exciting new markets.”

Perhaps reflecting current PC industry relative stability, Intel’s PC Client Group generated $9.2 billion in sales for a 9 percent year-over-year increase, while its Data Center Group compiled $3.7 billion in sales amounting to a 16 percent spike from the same time last year.

Revenue in the vendor’s relatively new Internet of Things Group, including embedded chips for retail, automotive, home and transportation, jumped 14 percent to $530 million from last year, although sequential sales in the unit slipped 2 percent. Intel’s Software and Services sales gained 2 percent from last year to $558 million.

However, it’s in mobile, where Krzanich has been most vocal since taking the company’s helm in May 2013, that Intel continues to struggle, this time producing a mere $1 million in sales for the quarter, a 100 percent decline but a figure the company still termed “consistent with expectations.” The unit, which handles Intel’s smartphones and tablet business along with other mobile communications technology, posted an operating loss of $1.04 billion, bringing its nine-month losses to more than $3 billion.

Some of the losses owe to Intel’s willingness to pack the tablet market with low-priced Bay Trail chips, taking the clear position of loss leader in the category. How long Intel intends to continue in that position remains unanswered.

As for Q4 2014, Intel said it expects to record about $14.7 billion in sales on approximately 64 percent gross margin.

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