Intel Data, IoT Sales Up In Q3

Intel said it had $3.11 billion in net income on revenue of $14.47 billion for the quarter that ended in September, down from $3.32 billion in profit on $14.6 billion in sales for the same period a year ago.

The company gave fourth-quarter guidance of $14.8 billion in revenue, give or take $500 million, with an expected gross margin in the area of 62%.

Intel (NASDAQ:INTC)’s stock had its “buy” rating reaffirmed by equities research analysts at Piper Jaffray in a research report issued to clients and investors on Friday, Marketbeat.com reports. The 52-week high of the share price is $37.9 and the 52-week low is $24.87. Both of those units showed a revenue advance compared to last quarter.

Although Intel’s adjusted earnings per share (EPS) of 64 cents represented a YoY decline of 3% it exceeded estimates of 61 cents.

Despite the dual release of Microsoft’s Windows 10 operating system and Intel’s sixth-generation Skylake processor, creating innovation opportunities for OEM partners, the Santa Clara, Calif.-based company still has to wait awhile before the PC market turns around, said Krzanich.

Now the company Insiders own 0.09% of Intel Corp Company shares according to the proxy statements.

Currently, INTC has a Zacks Rank #3 (Hold), although we could see movement in the rankings following the today’s report.

Intel has cut its capex forecast again – the fourth time this year – and it now stands at $7.3 billion plus or minus half a billion down from the $10.3 billion figure of late last year.

Intel (INTC) stock rose 0.06% in after-hours trading.

With that in mind, we can look at Intel’s third quarter financials with a bit of perspective.

A quarterly cash dividend of $0.25556 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series E, is due on November 16 to shareholders of record as of October 30. The ex-dividend date is Wednesday, November 4th.

Intel Corporation is engaged in the design and fabrication of digital technology platforms. The Organization sells these platforms to original equipment manufacturers (NASDAQ:INTC), original design manufacturers (ODMs), and industrial and communications equipment makers in the computing and communications businesses. The Firm’s platforms are used to provide a variety of computing experiences in laptops, 2 in the Internet of Things, desktops, servers, tablets, smartphones, and 1 systems. In addition, it develops and sells software and services focused on technology and security integration.

The more recently formed Internet of Things group had $581 million in sales, a fraction of the company’s quarterly revenue, but up 10 percent from a year ago. All Other section comprises Non- Netbook Group, Volatile Memory Solutions Group and New Apparatus Group.