Intel Swings to Quarterly Loss on Tax Charge -- Earnings Review
January 25 2018 - 5:54PM
Dow Jones News
By Maria Armental
Intel Corp. (INTC) reported the first quarterly loss since the
first quarter of 2009, driven by a one-time charge related to
recent changes in U.S. tax law. Here's what you need to know:
EARNINGS: Intel swung to a fourth-quarter loss of $687 million,
or 15 cents a share, from a year-earlier profit of $3.56 billion,
or 73 cents a share. Excluding the impact from the tax-law changes
and other items, per-share profit rose to $1.08 from 79 cents a
year earlier, beating analysts' projected 86 cents a share.
TAX LAW: The company recorded one-time charges of $5.4 billion
related to the new tax law.
REVENUE: Revenue rose 4% to $17.05 billion, beating analysts'
estimates of $16.35 billion. Of note, the data center group, a unit
key to Intel's future, reported a 20% revenue increase.
GROSS MARGIN: Gross profit margin improved to 63.1% from 61.7% a
year earlier.
OUTLOOK: In 2018, Intel estimates $3.30 a share in profit, or
about $3.55 as adjusted on about $65 billion, compared with
analysts' $3.03 a share in profit, or $3.27 as adjusted, on $63.8
billion projection.
STOCK: Shares, up 20% over the past 12 months, rose 3.5% to
$46.90 in after-hours trading.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
January 25, 2018 17:39 ET (22:39 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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