Intel's Q3 Earnings Show $3 Billion In Net Income
If you're Intel, great news abounds. While the holiday quarter always tends to be positive for the chip giant, Q3 is one of those mysteries. This year, however, Wall Street is apt to be pleased with what the company accomplished. Intel reported third-quarter earnings this week, posting strong revenue of $13.5 billion alongside net income of $3 billion. All told, total revenue was up 5% sequentially, but flat year-over-year. That said, the Data Center Group saw record revenue of $2.9 billion, a rise of 12% compared to Q3 of last year.
This quarter also saw the launch of 4th-gen Core products, not to mention over forty 22nm products for ultra-mobile products, networking, storage, and server market segments. "The third quarter came in as expected, with modest growth in a tough environment," said Intel CEO Brian Krzanich. "We're executing on our strategy to offer an increasingly broad and diverse product portfolio that spans key growth segments, operating systems and form factors. Since August we have introduced more than 40 new products for market segments from the Internet-of-Things to datacenters, with an increasing focus on ultra-mobile devices and 2 in 1 systems."
For next quarter, Intel's expecting a slight boost in revenue, with a gross margin of 61%. Folks may not be snapping up new desktops and laptops at the rate that they used to, but Intel is seemingly rolling with the punches in fine fashion.
This quarter also saw the launch of 4th-gen Core products, not to mention over forty 22nm products for ultra-mobile products, networking, storage, and server market segments. "The third quarter came in as expected, with modest growth in a tough environment," said Intel CEO Brian Krzanich. "We're executing on our strategy to offer an increasingly broad and diverse product portfolio that spans key growth segments, operating systems and form factors. Since August we have introduced more than 40 new products for market segments from the Internet-of-Things to datacenters, with an increasing focus on ultra-mobile devices and 2 in 1 systems."
For next quarter, Intel's expecting a slight boost in revenue, with a gross margin of 61%. Folks may not be snapping up new desktops and laptops at the rate that they used to, but Intel is seemingly rolling with the punches in fine fashion.
