Intel hits record $14.8 billion second quarter earnings

Intel records record revenues for the second quarter in a row, causing the company to raise its total fiscal year earnings forecast.

@DeekeTweak
Published Fri, Jul 28 2017 3:17 AM CDT   |   Updated Tue, Nov 3 2020 11:54 AM CST

Intel reports record second quarter earnings of $14.8 billion in revenues, and adjusts its total year earnings to reflect strong segment growth.

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Intel today reported its fiscal Q2'17 earnings of $14.8 billion, up 14% year-over-year with impressive growth in client computing, which was up 12%, and an increase of 16% in data-centric businesses like its Data Center, Internet of Things, and Programmable Solutions Groups. The Santa Clara-based tech titan reported operating income of $3.8 billion, representing a massive 190% jump year-over-year. Earnings per share (EPS) was $0.58 during the three-month quarter, up a mighty 115% YoY.

Intel hits record $14.8 billion second quarter earnings 6 | TweakTown.com

Intel generated $4.7 billion in operational cash flow during the quarter, and as a result of two strong quarters of revenue growth, the company has adjusted its full-year outlook by $1.3 billion to $61.3 billion, and raised its EPIS outlook to $2.66, up 15 cents over previous forecasts.

Intel hits record $14.8 billion second quarter earnings 5 | TweakTown.com

"Q2 was an outstanding quarter with revenue and profits growing double digits over last year," said Brian Krzanich, Intel CEO. "We also launched new Intel Core, Xeon and memory products that reset the bar for performance leadership, and we're gaining customer momentum in areas like AI and autonomous driving. With industry-leading products and strong first-half results, we're on a clear path to another record year."

"We feel great about where we are relative to our three year plan and heading into the second half. Intel's transformation continues in the third quarter when we expect to complete our planned acquisition of Mobileye," said Bob Swan, Intel CFO. "Based on our strong first-half results and higher expectations for the PC business, we're raising our full-year revenue and EPS forecast."

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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