Intel raises full year revenue, profit forecast

By: |
New Delhi | Published: October 27, 2017 3:13:12 AM

Intel Corp, the world's largest computer chipmaker raised its full-year revenue and profit forecast, helped by strong growth in its data center and cloud computing business.

intel, profit forecastThe company’s net income rose to .52 billion, or 94 cents per share, in the third quarter ended September 30, from .38 billion, or 69 cents per share, a year earlier. (Reuters)

Intel Corp, the world’s largest computer chipmaker raised its full-year revenue and profit forecast, helped by strong growth in its data center and cloud computing business. For the full year, the company said it expects to earn $2.93 per share on revenue of $62 billion.

Revenue from Intel’s higher-margin data center business rose 7 percent to $4.9 billion in the third quarter, beating analysts’ expectation of $4.79 billion, according to financial data and analytics firm FactSet.

Intel, which has been switching its focus to the data center business, is also venturing into newer areas such as artificial intelligence and driverless cars to reduce its reliance on the traditional PC market.

The company’s net income rose to $4.52 billion, or 94 cents per share, in the third quarter ended September 30, from $3.38 billion, or 69 cents per share, a year earlier.

Excluding items, the company earned $1.01 cents per share, beating analysts’ estimate of 80 cents per share.

Revenue rose 2.4 percent to $16.15 billion, beating estimates of $15.73 billion.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Government expects $40 bn in Indian exploration and production in 4-5 years
2Twitter shows signs of life with renewed user growth
3Retail buyers lap up NLC shares, government likely to get Rs 750 cr