Intel Corporation (NASDAQ: INTC) unleashed its fourth-quarter results, closing the Fiscal Year 2018 at all-time- record revenue of $70.8 billion. The US-based technology giant has reported 13 percent Year-on-Year growth in its full-year revenue but has missed on its earnings estimates for the fourth quarter.
INCT stock price fell straight after the company announced its fourth-quarter adjusted earnings of $1.28 per share, down from its guidance by 6 cents. This gap between estimated and actual fourth-quarter earnings of the company appears to be driven by the revenue decline of 7 percent in its Internet of Things Group (IOTG).
However, compared to Q4 2017, Intel has posted 18 percent improvement in its Q4 2018 adjusted earnings per share. It accounts for 10 percent YoY revenue growth in Intel’s PC-Centric business and a 9 percent growth in its Data-Centric business for the fourth quarter of FY18.
Intel’s Board has also approved a 5 percent rise in the company’s cash dividend to $1.26 per share on an annual basis. The Board of Directors declared that it would distribute $0.315 per share for its quarterly dividend to the shareholders recorded on the registry of the company on 7 February 2019. The divided is reportedly payable on 1 March 2019.
Bob Swan, Intel CFO and Interim CEO stated that 2018 had outlined a remarkable year for Intel Corp with record revenue in every business segment as the company transforms to pursue the biggest market opportunities ever.
For the full year 2018, the company has produced a record $29.4 billion cash from operations with adjusted net income up 28% to $21.5 billion on Y-o-Y basis. The company has made payment for $5.5 billion dividends and has utilized $10.7 billion to buy-back 217 million shares, as per the report.
The company’s PC-centric business has unveiled its new PC-processor product ‘Ice Lake’ which is anticipated to be to be in OEM systems on shelves in 2019. CCG has further expanded its portfolio by the launch of new 9th Gen Intel® Core™ processors.
Intel’s upcoming 10nm-based PC processor product ‘Ice Lake’ will put Intel in a stronger and more competitive position going forward, said Mr. Swan.
Moreover, Intel recently informed that the shipping of Intel® Xeon® processors product “Cascade Lake” is underway. It is reported to have an advanced Artificial Intelligence and memory capabilities.
Looking into the full year 2019, Intel drew its revenue expectation to record ~$71.5 billion with first-quarter revenue expected to approximately $16 billion. The company’s guidance for 2019 earnings is $4.60 per share while it expects first-quarter earnings to reach $0.87 per share.
Intel Corporation’s stock last closed at USD 49.76 with an upside price movement of 3.80% on an intra-day basis.
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.