Intel Boasts A Jump In Q4 And FY17 Revenue, Shares Soar
Intel is ending 2017 on a strong note with its fourth quarter revenue up 4 per cent to US$17.1bn compared to the prior year and full year revenue at US$62.8bn up 6 per cent compared to 2016.
Currently, Intel’s shares are at US$50.08, a 10.55 per cent jump, which Bloomberg says is a 17 year high for the company.
Brian Krzanich, Intel CEO says, “2017 was a record year for Intel with record fourth-quarter results driven by strong growth of our data-centric businesses.
“The strategic investments we’ve made in areas like memory, programmable solutions, communications and autonomous driving are starting to pay off and expand Intel’s growth opportunity. In 2018, our highest priorities will be executing to our data-centric strategy and meeting the commitments we make to our shareholders and our customers.”
The company generated a record US$22bn cash from operations and returned nearly $9bn to shareholders.
Bob Swan, Intel CFO says, “The fourth quarter was an outstanding finish to another record year. Compared to the expectations we set, our revenue was stronger, our operating margins were higher, and our spending was lower.
“Intel’s PC-centric business continued to execute well in a declining market while the growth of our data-centric businesses shows Intel’s transformation is on track.”
For 2018, the company is expecting another record breaking year despite starting the year off to a bad start with its Intel security chip issue.
To read the full statement of results click here.