Intel Corp (INTC) 10-Q Quarterly Report October 2018


•	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

Material Contracts, Statements, Certifications & more

Intel Corp provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Material Contract

Exhibit 10.2: Material Contract

Exhibit 10.3: Material Contract

Exhibit 12.1: Statement Regarding Calculation Of Ratios

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

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