Tech: Intel's third-quarter revenue and earnings beat analyst expectations

Revenues were $16.1 billion for the third quarter, compared to analyst estimates of $15.73 billion.

• Intel beat analyst expectations in its third-quarter earnings report on Thursday.
• Revenues were up 2% from the same quarter last year.
• Earnings per share were up 26% from the same quarter last year.

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Intel beat analyst expectations for its third quarter earnings on Thursday, with revenues up for the company's data center, Internet of Things group, and memory business.

All three saw record quarterly revenues, the company said. Data center revenue was up 7% year-over-year to $4.9 billion. Revenue for the Internet of Things group was up 23% to $849 million. The memory group saw revenue up 37% to $891 million.

The programmable solutions group, which includes Intel's programmable semiconductors, was also up 10% year-over-year to $469 million in revenue.

Client computing — the group which includes Intel's desktops, phones and tablets — had nearly flat revenue from year-over-year, but was down 7% in the number of units sold. Most of those losses were in desktop platform sales, which were down 6% year-over-year in the number of units sold.

Here's what Intel reported:

• Revenues (adjusted) were $16.1 billion for the quarter. This is compared to analyst estimates of $15.73 billion.
• Earnings per share (non-adjusted) were $1.01. This is compared to analyst estimates of $0.80.
• Projected revenues for Q4 (adjusted) are $16.3 billion. This is compared to analyst estimates of $16.1 billion.
• Projected earnings per share for Q4 (non-adjusted) are $0.86. This is compared to analyst estimates of $0.83.
• Projected revenues for 2017 (adjusted) are $62 billion. This is compare to analyst estimates of $61.4 billion.
• Projected earnings per share for 2017 (adjusted) are $3.25. This is compared to analyst estimates of $3.01

Revenues were $16.1 billion for the third quarter, compared to analyst estimates of $15.73 billion. Read Full Story