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Intel Corp (INTC) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 29, 2018

Intel Corp

CIK: 50863 Ticker: INTC
Exhibit 99.1

Intel Corporation
2200 Mission College Blvd.
Santa Clara, CA 95054-1549
earningsintellogobwa07.jpg News Release


Intel Reports Third-Quarter Financial Results


News Summary:
Record quarterly revenue of $19.2 billion, up 19 percent year-over-year (YoY); data-centric* revenue grew 22 percent and PC-centric revenue grew 16 percent.
Record quarterly GAAP earnings-per-share (EPS) of $1.38 grew 47 percent YoY; non-GAAP EPS of $1.40 was up 39 percent.
Year-to-date, generated $22.5 billion in cash from operations, $11.2 billion of free cash flow and returned $12.6 billion to shareholders, including dividends of $4.17 billion and share repurchases of $8.46 billion.
Raising full-year revenue outlook to $71.2 billion, GAAP EPS outlook to approximately $4.52 and non-GAAP EPS of $4.53; up $1.7 billion, $0.42 and $0.38 from July guidance, respectively.


SANTA CLARA, Calif., October 25, 2018 -- Intel Corporation today reported third-quarter 2018 financial results. Third-quarter revenue of $19.2 billion was an all-time record, up 19 percent YoY driven by broad business strength and customer preference for performance-leading products. The Client Computing Group (CCG), the Data Center Group (DCG), the Internet of Things Group (IOTG), the Non-volatile Memory Solutions Group (NSG) and Mobileye all achieved record revenue. Collectively, data-centric businesses grew 22 percent, led by 26 percent YoY growth in DCG. PC-centric revenue was up 16 percent on continued strength in the commercial and gaming segments. Excellent operating margin leverage and a lower tax rate drove record quarterly EPS.

“Stronger than expected customer demand across our PC and data-centric businesses continued in the third quarter. This drove record revenue and another raise to our full-year outlook, which is now up more than six billion dollars from our January expectations. We are thrilled that in a highly competitive market, customers continue to choose Intel,” said Bob Swan, Intel CFO and Interim CEO. “In the fourth quarter, we remain focused on the challenge of supplying the incredible market demand for Intel products to support our customers' growth. We expect 2018 will be another record year for Intel, and our transformation positions us to win share in an expanded $300 billion1 total addressable market.”
 
Q3 2018 Financial Highlights
 
GAAP
 
Non-GAAP
 
Q3 2018
Q3 2017
vs. Q3 2017
 
Q3 2018
Q3 2017
vs. Q3 2017
Revenue ($B)
$19.2
$16.1
up 19%
 
$19.2^
$16.1^
up 19%
Gross Margin
64.5%
62.3%
up 2.2 pts
 
65.9%
64.0%
up 1.9 pts
R&D and MG&A ($B)
$5.0
$4.9
up 3%
 
$5.0^
$4.8
up 6%
Operating Income ($B)
$7.3
$5.1
up 43%
 
$7.6
$5.6
up 36%
Tax Rate
10.4%
23.8%
down 13.4 pts
 
11.9%
23.8%^
down 11.9 pts
Net Income ($B)
$6.4
$4.5
up 42%
 
$6.5
$4.8
up 34%
Earnings Per Share
$1.38
$0.94
up 47%
 
$1.40
$1.01
up 39%

In the third quarter, the company generated approximately $8.8 billion in cash from operations, paid dividends of $1.4 billion and used $2.7 billion to repurchase 50 million shares of stock.

* Data-centric businesses include DCG, IOTG, NSG, PSG and All Other
1Intel calculated 2022 total addressable market opportunity derived from industry analyst reports and internal estimates.
^ No adjustment on a non-GAAP basis




The following information was filed by Intel Corp (INTC) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Consolidated Condensed Balance Sheets
Consolidated Condensed Balance Sheets (Parenthetical)
Consolidated Condensed Statements Of Cash Flows
Consolidated Condensed Statements Of Comprehensive Income
Consolidated Condensed Statements Of Income
Basis Of Presentation
Borrowings
Borrowings Borrowings, Narrative (Details)
Business Segments (Detail)
Contingencies
Contingencies (Detail)
Contract Liabilities
Contract Liabilities (Details)
Contract Liabilities (Tables)
Derivative Financial Instruments
Derivative Financial Instruments (Detail)
Derivative Financial Instruments (Tables)
Earnings Per Share
Earnings Per Share (Detail)
Earnings Per Share (Tables)
Employee Equity Incentive Plans
Employee Equity Incentive Plans (Detail)
Employee Equity Incentive Plans (Tables)
Fair Value
Fair Value (Detail)
Fair Value (Tables)
Identified Intangible Assets
Identified Intangible Assets (Tables)
Identified Intangible Assets, Finite-Lived Intangible Assets (Detail)
Identified Intangible Assets, Indefinite-Lived Intangible Asset (Detail)
Identified Intangible Assets, Total Intangible Assets (Detail)
Income Taxes
Income Taxes (Details)
Investments
Investments (Tables)
Investments, Available-For-Sale Debt Investments (Detail)
Investments, Equity Investments (Details)
Investments, Equity Method Investments (Detail)
Investments, Trading Assets (Detail)
Operating Segments
Operating Segments (Tables)
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) (Tables)
Other Comprehensive Income (Loss), Accumulated Other Comprehensive Income (Loss) (Detail)
Other Comprehensive Income (Loss), Reclassification Out Of Accumulated Other Comprehensive Income (Detail)
Other Financial Statement Details
Other Financial Statement Details (Tables)
Other Financial Statement Details Interest And Other, Net (Details)
Other Financial Statement Details Inventories (Details)
Other Long-Term Assets
Other Long-Term Assets (Detail)
Other Long-Term Assets (Tables)
Product Information (Detail)
Recent Accounting Standards (Details)
Recent Accounting Standards (Tables)
Recent Accounting Standards Accounting Policy Updates (Policies)
Recent Accounting Standards And Accounting Policies
Ticker: INTC
CIK: 50863
Form Type: 10-Q Quarterly Report
Accession Number: 0000050863-18-000029
Submitted to the SEC: Thu Oct 25 2018 6:52:51 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Saturday, September 29, 2018
Industry: Semiconductors And Related Devices

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