Intel (INTC) Q4 Earnings Surpass Estimates, Revenues Miss
Zacks Investment Research | Jan 24, 2019 09:58PM ET
Intel (NASDAQ:INTC) delivered fourth-quarter 2018 non-GAAP earnings of $1.28 per share, which beat the Zacks Consensus Estimate by 6 cents. The figure improved18.5% from the year-ago quarter but declined 8.6% sequentially.
Year-over-year earnings growth can be attributed to improvement in revenues, higher ASPs (or average selling price), lower share count due to aggressive share repurchase and lower effective tax-rate. Further, rising demand witnessed in company’s higher performance products, both in data center and client domains acted as a catalyst.
Revenues totaled $18.657 billion, up 9.4% year over year but declined 2.6% on a quarter-over-quarter basis. The year-over-year improvement came on the back of growth witnessed in both data-centric and PC-centric businesses.
However, the figure lagged the Zacks Consensus Estimate of $19.010 billion. Weakness in demand from China, declining trend in PC shipments, softness in NAND flash pricing trends, lackluster modem business, and constrained supply impacted results.
Shares were down more than 7.1% in after-hour trading owing to a tepid view and revenue miss. Intel’s stock has returned 1.8% in the past year, against the Zacks Investment Research
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