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Intel Claims Record Q2 Results

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Intel reports better than expected (at least by the analysts) revenues and income for Q2 2017, with revenues growing by 9% Y-o-Y to $14.8 billion while net income is up by 23% Y-o-Y to $3.5bn.

Intel chip“Q2 was an outstanding quarter with revenue and profits growing double digits over last year,” CEO Brian Krzanich says. “We also launched new Intel Core, Xeon and memory products that reset the bar for performance leadership, and we’re gaining customer momentum in areas like AI and autonomous driving. With industry-leading products and strong H1 2017 results, we’re on a clear path to another record year."

However, despite such results the Financial Times says Intel is now the second-biggest chipmaker by revenues, as it has lost the crown to no other than the S. Korean giant, Samsung.

All Chipzilla divisions see growth except the smallest, the Programmable Solutions Group, whose revenues are down by -5% Y-o-Y. The largest division, the Client Computing Group, is up by 12%, while the Datacentre Group is up by 9%. The NV Memory Solutions Group has the highest growth at 58%, followed by the IoT Group at 26%.

Boosting results are the launch of the Core X-Series chips targeted at gamers and virtual reality users, as well as the Xeon Scalable server processors. The quarter also has the acquisition of Mobileye, the autonomous vehicle sensor maker, part of the Intel effort in diversification away from its staple, the PC market.

“We feel great about where we are relative to our 3 year plan and heading into H2 2017. Intel’s transformation continues in Q3 2017 when we expect to complete our planned acquisition of Mobileye,” CFO Bob Swan concludes. “Based on our strong H1 2017 results and higher expectations for the PC business, we’re raising our full-year revenue and EPS forecast.”

Go Intel Reports Record Q2 Revenue

Go Intel Lifts Profit Outlook Even as Chip Crown Slips (FT.com, registration required)