Intel Q1 Profit Beats Estimates; Raises FY17 Revenue, EPS Outlook - Quick Facts

(RTTNews) - Intel Corp. (INTC) reported first-quarter non-GAAP earnings per share of $0.66 compared to $0.54, prior year. The company said the increase was primarily driven by higher platform average selling prices, lower platform costs, and higher gains on investments. This increase was partially offset by a higher tax rate and lower platform volume. On average, 32 analysts polled by Thomson Reuters expected the company to report profit per share of $0.65 for the quarter. Analysts' estimates typically exclude special items.

The company reported first-quarter revenue of $14.8 billion, up 8 percent year-over-year on a GAAP basis and 7 percent on a non-GAAP basis. Analysts expected revenue of $14.81 billion for the quarter. Client Computing Group revenue was $8.0 billion, up 6 percent; Data Center Group revenue was $4.2 billion, up 6 percent; and Internet of Things Group revenue of $721 million, up 11 percent.

For the full year 2017, Intel expects non-GAAP EPS of $2.85 within a range of plus or minus 5%, and revenue of approximately $60 billion. The company noted that its full-year outlook for revenue was raised $500 million and EPS was raised by 5 cents.

For the second-quarter, the company expects non-GAAP EPS of $0.68 in a range of plus or minus 5 cents, and revenue of $14.4 billion, within a range of plus or minus $500 million.