Intel (INTC) To Post Q2 Earnings: Disappointment In Cards?
Zacks Investment Research | Jul 23, 2017 10:39PM ET
Intel Corp (NASDAQ:INTC) is set to report second-quarter 2017 results on Jul 27. Notably, the company has a positive record of earnings surprises in the trailing four quarters, with an average surprise of 6.95%.
Last quarter, the company delivered a positive earnings surprise of 1.54%. Non-GAAP earnings of 66 cents per share surged 22% from the year-ago quarter but declined 16.5% sequentially.
Strong year-over-year earnings growth was driven by 7.2% increase in revenues, which totaled $14.80 billion but missed the Zacks Consensus Estimate of $14.81 billion. Revenues decreased 9.6% sequentially.
Intel guided second-quarter 2017 revenues of around $14.4 billion (+/-$500 million), almost flat sequentially and up 6% year over year. Excluding Intel Security Group business, revenues are projected to grow 11% on a year-on-year basis.
The non-GAAP gross margin is expected to be around 63% (+/-2%), flat sequentially. R&D and MG&A expenses are anticipated to amount at around $5.2 billion.
Intel Corporation Price and EPS Surprise
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