8-KEarnings & ResultsExhibits & Filings

INTEL CORP 8-K Report, Financial Results (Oct 18, 2016)

Filed October 18, 2016For Securities:INTC

Summary

Intel Corporation (INTC) filed an 8-K on October 18, 2016, to report its third-quarter 2016 financial results and provide forward-looking guidance. The key takeaway for investors is the announcement of record quarterly revenue of $15.8 billion, representing a significant 9% year-over-year increase. This strong top-line performance, coupled with an operating profit of $4.5 billion, signals positive momentum for the company during the third quarter. The filing also incorporated by reference a press release and CFO commentary, which likely delve deeper into the operational drivers behind these results and provide outlook for the fourth quarter and full year 2016. Investors should pay close attention to the details within these attached exhibits, particularly any discussion of non-GAAP financial measures, which the company intends to use in its earnings conference call. The company emphasizes that these non-GAAP measures should be considered alongside, and not as a replacement for, GAAP results.

Key Highlights

  • 1Intel reported record third-quarter revenue of $15.8 billion, up 9% year-over-year.
  • 2Operating profit for the third quarter was $4.5 billion.
  • 3The 8-K filing includes financial results for the quarter ended October 1, 2016.
  • 4Forward-looking statements regarding Q4 2016 and full-year 2016 outlook are provided.
  • 5The company is furnishing non-GAAP financial measures in addition to GAAP results.
  • 6The filing incorporates by reference a press release (Exhibit 99.1) and CFO commentary (Exhibit 99.2).

Frequently Asked Questions

The main highlight is Intel's announcement of record quarterly revenue of $15.8 billion for the third quarter of 2016, marking a 9% increase compared to the same period in the prior year. The company also reported an operating profit of $4.5 billion.

Yes, the 8-K filing states that forward-looking statements relating to Intel's fourth quarter of 2016 and the full year 2016 are included. These details are expected to be found within the press release and CFO commentary referenced in the filing.

Investors should look for both GAAP and non-GAAP financial measures. The filing explicitly mentions the use of non-GAAP financial measures and provides reconciliations for them, which are often used by management to provide a clearer view of ongoing operational performance.

Commentary on the third-quarter results and forward-looking statements was provided by Stacy J. Smith, then Executive Vice President, Manufacturing, Operations, and Sales (and former CFO), and Robert H. Swan, who joined as the new Executive Vice President, Chief Financial Officer and Principal Accounting Officer on October 10, 2016.