Sometimes it can feel as if Intel is stumbling from disaster to disaster every day, but its latest fiscal report paints a very different picture of the chip giant. Intel has posted record revenue for Q3 2018, backed up by record-breaking profits.
Intel’s revenue for the quarter was $19.2 billion, the most it has ever earned in a single quarter throughout its entire history, up 19% compared to the same quarter last year.
“Stronger than expected customer demand across our PC and data-centric businesses continued in the third quarter. This drove record revenue and another raise to our full-year outlook, which is now up more than six billion dollars from our January expectations. We are thrilled that in a highly competitive market, customers continue to choose Intel,” said Bob Swan, Intel CFO and Interim CEO.
“In the fourth quarter, we remain focused on the challenge of supplying the incredible market demand for Intel products to support our customers’ growth. We expect 2018 will be another record year for Intel, and our transformation positions us to win share in an expanded $300 billion total addressable market.”
Intel had initially expected full-year revenue of $65 billion in 2018, but this figure has now been revised upwards to $71.2 billion thanks to stronger than expected performance.
Of the $19.2 billion earned, $10.2 billion came from Intel’s Client Computing Group, the arm responsible for normal PC processor sales and related components. This is the area where we perhaps would’ve expected Intel to take a minor hit. However, revenue from CPU sales was actually up 16% YOY, spurred on by the launch of the first Intel Core 9th Gen processors. The second largest sector was the Data Center Group with $6.1 billion; the fastest growing sector at Intel. The remaining $2.5 billion revenue was split between Internet of Things (IOTG), Non-Volatile Memory Solutions (NSG), and its Programmable Solutions Group (PSG).
It’s a rare bit of good news for Intel after weeks of negative reports, including an internal restructure, Intel struggling with 10nm fabrication, AMD rapidly pulling back market share, and an ill-fated rumour Intel had killed off its 10nm production.