Intel (NASDAQ: INTC) 1Q19 Results: Beats Consensus by Two Cents, Rapid Growth at Mobileye, Lowers Revenue Forecast for the Year

Executive Summary

• Intel reported 1Q19 revenues of $16.06 billion, flat year over year and in line with the consensus estimate. Adjusted EPS was $0.89, up 1.8% and beating consensus by $0.02.
• PC-centric revenue increased 4.5%, offset by data-centric revenue, which declined 4.4%. Revenue from Mobileye grew 38.4%.
• The company reduced its 2019 revenue forecast by $2.5 billion to $69 billion and guided for Q2 revenues and EPS below consensus estimates.