Intel Reports First-Quarter 2020 Financial Results

Intel Corporation in the present day reported first-quarter 2020 monetary outcomes. “Our first-quarter performance is a testament to our team’s focus on safeguarding employees, supporting our supply chain partners and delivering for our customers during this unprecedented challenge,” mentioned Bob Swan, Intel CEO.”The role technology plays in the world is more essential now than it has ever been, and our opportunity to enrich lives and enable our customers’ success has never been more vital. Guided by our cultural values, competitive advantages and financial strength, I am confident we will emerge from this situation an even stronger company.”

In the primary quarter, Intel achieved 34 p.c data-centric income progress and 14 p.c PC-centric income progress YoY. The firm maintained important manufacturing unit operations with better than 90 p.c on-time supply whereas supporting workers, prospects and communities in response to the COVID-19 pandemic. This features a new Intel Pandemic Response Technology Initiative to fight the virus the place we will uniquely make a distinction with Intel expertise, experience, and sources.

First-quarter data-centric outcomes have been led by energy within the Data Center Group (DCG) with income up 43 p.c YoY pushed by broad energy together with 53 p.c YoY progress in cloud service supplier income. Intel’s reminiscence enterprise (NSG) and Mobileye each set new income information within the first quarter. Also, Intel launched a broad, data-centric portfolio for 5G community infrastructure, together with the brand new Intel Atom P5900, a 10 nm system-on-chip (SoC) for wi-fi base stations; a next-generation structured ASIC for 5G community acceleration (code-named “Diamond Mesa”); and new 2nd Gen Intel Xeon Scalable processors.

The PC-centric enterprise (CCG) exceeded expectations, up 14 p.c YoY within the first quarter on improved CPU provide and demand energy as customers and companies are counting on PCs for working and studying at residence. Recently, Intel launched the 10th Gen Intel Core H-series cell processors, together with a brand new processor delivering desktop-caliber efficiency that players and creators can take wherever.

Additional info relating to Intel’s outcomes will be discovered within the Q1’20 Earnings Presentation out there at: www.intc.com/outcomes.cfm

Business Outlook

Intel’s steering for the second-quarter consists of each GAAP and non-GAAP estimates. Reconciliations between these GAAP and non-GAAP monetary measures are included under. Given the numerous financial uncertainty,Intel shouldn’t be offering full-year steering. Intel’s Business Outlook doesn’t embody the potential affect of any enterprise combos, asset acquisitions, divestitures, strategic investments and different important transactions which may be accomplished after April 23, 2020.