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Earnings In Focus: INTC, TEAM, SWKS

Intel Posts Upbeat Q4 Results; Raises FY2020 Outlook

Intel Corp. (INTC), on Jan. 23, reported upbeat Q4 results and raised its fiscal 2020 guidance.

The company's Q4 net income was $6.9 billion or $1.58 per share versus $5.2 billion or $1.12 per share last year. Non-GAAP net income was $6.7 billion or $1.52 per share compared to $5.9 billion or $1.28 per share in the prior year period. Revenues increased 8% to $20.2 billion from the previous year's $18.7 billion.

Analysts polled by Thomson Reuters estimated earnings of $1.25 per share on revenue of $19.23 billion for the quarter. Analysts' estimate typically exclude certain special items.

"In 2019, we gained share in an expanded addressable market that demands more performance to process, move and store data," said Intel's CEO, Bob Swan. "One year into our long-term financial plan, we have outperformed our revenue and EPS expectations. Looking ahead, we are investing to win the technology inflections of the future, play a bigger role in the success of our customers and increase shareholder returns."

Looking forward to the first quarter, Intel sees GAAP EPS of $1.23, non-GAAP EPS of $1.30, and revenue of about $19.0 billion, while analysts estimate earnings of $1.04 per share on revenue of $17.19 billion.

For the full year 2020, Intel now expects GAAP EPS of $4.71, non-GAAP EPS of $5.00, and revenues of about $73.5 billion. Analysts currently estimate earnings of $4.68 per share on revenues $72.25 billion. Earlier, the company expected non-GAAP earnings of about $4.60 per share and revenue of about $71.5 billion.

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Atlassian Q2 Results Top Consensus; Issues Q3, FY Guidance

Team collaboration and productivity software provider Atlassian Corp. Plc (TEAM) reported Q2 net income of $124.1 million or $0.49 per share versus $45.2 million or $0.18 per share last year.

On a non-IFRS basis, net income amounted to $93.9 million or $0.37 per share, higher than the previous year's $61.7 million or $0.25 per share in the prior year period.

Total revenue of $408.7 million was up 37% from $299.0 million generated a year ago.

Wall Street analysts expected earnings of $0.27 per share on revenue of $388.93 million for the quarter.

"We had a strong quarter, growing revenue 37% year-over-year and generating record profitability and free cash flow," said Scott Farquhar, Atlassian's co-founder and co-CEO. "Subscription revenue grew 50% year-over-year, underscoring the progress we continue to make in our cloud-first strategy. This is just another small step on our long-term journey to build an enduring company."

Q3, FY2020 Guidance

The company projects Q3 loss of about $0.19 per share on an IFRS basis, profit of about $0.20 per share on a non-IFRS basis, and total revenue in the range of $395 million - $399 million. Analysts are looking for earnings of $0.22 per share and revenue of $397.11 million for the quarter.

For fiscal 2020, Atlassian sees EPS of $0.48 - $0.54 on an IFRS basis, $1.03 - $1.09 per share on a non-IFRS basis, and total revenue in the range of $1.59 billion - $1.60 billion. Analysts estimate earnings of $1.01 per share on revenue of $1.57 billion for 2020.

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Skyworks Solutions Q1 Results Beat Estimates; Sees Q2 EPS, Revs Above Consensus

Skyworks Solutions Inc. (SWKS) reported Q1 GAAP net income of $257.1 million or $1.50 per share versus $284.9 million or $1.60 per share last year.

On a non-GAAP basis, net income amounted to $288.8 million or $1.68 per share, lower than the prior year's income of $324.6 million or $1.83 per share.

Net revenue declined to $896.1 million from $972.0 million generated in the same period of last year.

Analysts polled by Thomson Reuters expected earnings of $1.65 per share on revenue of $880.6 million. Analysts' estimate typically exclude certain special items.

Q2 Outlook

For the second quarter, the company expects non-GAAP earnings of $1.46 per share at the midpoint of its revenue guidance range of $800 million - $820 million. Analysts look for earnings of $1.40 per share and revenue of $788.38 million for the quarter.

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