Revenues of $62 billion in 2017
In addition to reporting fiscal 3Q17 financial results that blew Wall Street expectations away on both the revenue and earnings fronts, Intel (INTC) also upgraded its outlook for fiscal 2017, which is currently in its fourth quarter.
Intel is now expecting fiscal 2017 revenues of $62 billion, implying a rise of $700 million over the company’s previous revenue guidance for the year. As for the bottom line, Intel is now expecting adjusted EPS (earnings per share) of $3.25 for fiscal 2017, indicating an upgrade of $0.25 over its EPS guidance the company had issued earlier.
Intel on track with revenue results in 2017
As an important note, Intel’s top-line guidance for fiscal 2017 has an allowance of ~$500 million, while EPS has an allowance of ~$0.05.
Intel reported revenues of $16.1 billion in 3Q17. So far this year, the company has generated about $45.7 billion, implying that the company is just about $16.3 billion shy of its 2017 revenue target. The company seems to be on track to hit the target as it has guided 4Q17 revenues at a midpoint of $16.3 billion.
Chipmakers’ growing revenues
Intel reported revenues of $59.4 billion in 2016, which was also a full-year record. Micron Technology (MU) and Qualcomm (QCOM), which have already reported their fiscal 2017 results, posted full-year revenues of $20.3 billion and $5.9 billion, respectively. Both companies grew their full-year revenues over the previous year.
Nvidia (NVDA), which is currently in its fiscal 2018, reported fiscal 2017 revenues of $6.9 billion, up from $5.0 billion in fiscal 2016. Advanced Micro Devices (AMD), whose fiscal year is similar to that of Intel, reported fiscal 2016 revenues of $4.3 billion, up from $4.0 billion the previous year.