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Intel reports improved revenue, operating income in 2017

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Intel reports improved revenue, operating income in 2017

Intel Corp. announced that its net revenue for the year ending Dec. 30, 2017, came in at $62.76 billion, up 5.68% from 2016's $59.39 billion, and that its operating income grew by 39.32% on an annual basis.

Intel's net income came in at $9.60 billion, down 6.93% from 2016's $10.32 billion, after a provision for taxes of $10.75 billion which included a higher income tax expense of $5.40 billion arising from the new U.S. tax law.

Operating income for the year increased to $17.94 billion from $12.87 billion in the previous year; operating expenses fell to $21.13 billion from 2016's $23.32 billion.

In full-year terms, basic EPS fell to $2.04 from last year's $2.18, while diluted EPS stood at $1.99, down 6.13% compared to last year.

The company also increased its annual dividend by 10% to $1.20 per share, as it declared a quarterly dividend of 30 cents per share, payable March 1 to stockholders of record Feb. 7.