Intel Corporation today reported first-quarter 2019 financial results. Although the company beat analysts expectations for the quarter, shares of the stock fell after hours as the company cited weak guidance for the remainder of 2019.Summary:
• First-quarter revenue was $16.1 billion, flat year-over-year (YoY); data-centric revenue declined 5 percent and PC-centric revenue grew 4 percent.
• First-quarter GAAP earnings-per-share (EPS) of $0.87 declined 6 percent YoY; non-GAAP EPS of $0.89 was up 2 percent.
• Expecting second-quarter revenue of $15.6 billion; second-quarter GAAP EPS of $0.83 and non-GAAP EPS of $0.89.
• Expecting full-year revenue of $69.0 billion, full-year GAAP EPS of $4.14 and non-GAAP EPS of $4.35; down from January guidance.
"Results for the first quarter were slightly higher than our January expectations. We shipped a strong mix of highperformance products and continued spending discipline while ramping 10nm and managing a challenging NAND pricing environment. Looking ahead, we're taking a more cautious view of the year, although we expect market
conditions to improve in the second half," said Bob Swan, Intel CEO.
"Our team is focused on expanding our market opportunity, accelerating our innovation and improving execution while evolving our culture. We aim to capitalize on key technology inflections that set us up to play a larger role in our customers’ success, while improving returns for our owners."
Read the full earnings report here: https://s21.q4cdn.com/600692695/files/doc_financials/2019/Q1/Q1-2019_EarningsRelease_Final.pdf