Intel Reports $17B in Q2 Revenue, Up 15% YoY
SANTA CLARA, Calif., July 26, 2018 -- Intel Corporation today reported second-quarter 2018 financial results. Record second quarter revenue of $17.0 billion was up 15 percent YoY driven by strength across the business and customer demand for performance-leading Intel platforms. Collectively, data-centric businesses grew 26 percent, approaching 50 percent of total revenue. PC-centric revenue was up 6 percent on strength in the commercial and enthusiast segments. Operating margin leverage and lower tax rate drove excellent EPS growth. “After five decades in tech, Intel is poised to deliver our third record year in a row. We are uniquely positioned to capitalize on the need to process, store and move data, which has never been more pervasive or more valuable,” said Bob Swan, Intel CFO and Interim CEO. “Intel is now competing for a $260 billion market opportunity, and our second quarter results show that we’re winning. As a result of the continued strength we are seeing across the business, we are raising our full year revenue and earnings outlook.”
In the second quarter, Intel achieved revenue growth in every business segment. The PC-centric business grew 6 percent driven by strong demand for Intel's performance leading products with particular strength in gaming and commercial. The Client Computing Group (CCG) launched several new 8th Gen Intel Core processors including: the powerful 8th Gen Intel Core i9 processor for high performance laptops, 8th Gen Intel® CoreTM vProTM processors for business, and the 8th Gen Intel® CoreTM i7-8086K limited-edition processor for gaming. Collectively, Intel's data-centric businesses grew 26 percent year-over-year led by 27 percent growth in the Data Center Group (DCG). DCG saw strong demand from cloud and communications service providers investing to meet the explosive demand for data and to improve the performance of data-intensive workloads like artificial intelligence. DCG customer preference for Intel’s highest-performance products continued; Intel® Xeon® Scalable momentum continued.
The workload optimization trend in the data center is also fueling demand for FPGAs; Intel's Programmable Solutions Group (PSG) revenue grew 18 percent.
Intel's memory (NSG), Internet of Things Group (IOTG) and Mobileye businesses each achieved record quarterly revenue. Mobileye revenue grew 37 percent year-over-year as the adoption of advanced driver-assistance systems (ADAS) increases.
Intel Corp. (Nasdaq: INTC)