Intel Corporation today reported first-quarter revenue of $14.8 billion, up 8 percent year-over-year on a GAAP basis and 7 percent on a non-GAAP basis. Operating income was $3.6 billion, up 40 percent year-over-year, and non-GAAP operating income was $3.9 billion, up 20 percent. EPS was 61 cents, up 45 percent year-over-year, and non-GAAP EPS was 66 cents, up 22 percent.

The company also generated approximately $3.9 billion in cash from operations, paid dividends of $1.2 billion, and used $1.2 billion to repurchase 35 million shares of stock. Intel's board of directors has approved a $10 billion increase to Intel's share buyback program, which brings the amount currently available for future buybacks to approximately $15 billion."The first quarter was another record quarter, coming off a record 2016. We continued to grow our company, shipped our disruptive new Optane memory technology, and positioned Intel to lead in new areas like artificial intelligence and autonomous driving," said Brian Krzanich, Intel CEO. "The ASP strength we saw across nearly every segment of the business demonstrates continued demand for high-performance computing, which will only increase with the explosion of data."

Q1 Key Business Unit Results and Trends Year-over-Year

• Client Computing Group revenue of $8.0 billion, up 6 percent
• Data Center Group revenue of $4.2 billion, up 6 percent
• Internet of Things Group revenue of $721 million, up 11 percent
• Non-Volatile Memory Solutions Group revenue of $866 million, up 55 percent
• Intel Security Group revenue of $534 million, down 1 percent
• Programmable Solutions Group revenue of $425 million, up 18 percent

"In the first quarter, we achieved growth across the business and increased capital returns with a five percent dividend raise while investing for future growth," said Bob Swan, Intel CFO. "We're off to a good start and raised our outlook for the year as we also look to further improve Intel's operating efficiency."

Business Outlook
Intel's Business Outlook and other forward-looking statements in this earnings release reflects management's views as of April 27, 2017. Intel does not undertake, and expressly disclaims any duty, to update any such statement whether as a result of new information, new developments or otherwise, except to the extent that disclosure may be required by law.

Intel's Business Outlook does not include the potential impact of any business combinations, asset acquisitions, divestitures, strategic investments and other significant transactions that may be completed after April 27, 2017. Our guidance below reflects the divestiture of the Intel Security Group, which closed on April 3, 2017.

Our guidance for the second quarter and full-year 2017 include both GAAP and non-GAAP estimates. Reconciliations between these GAAP and non-GAAP financial measures are included below.Total restructuring and other charges are expected to be $2.1 billion, down $200 million versus previously disclosed expectations. Approximately $2.0 billion has been realized to-date.

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