Intel reported Q3 2019 revenue of $19.2 billion, which is $1.2 billion higher than guidance issued in July, and an all-time quarterly record. Intel said the performance was driven by record data-centric revenue, which were up 6 percent YoY. PC-centric revenue was in-line with expectations, down 5 percent compared to last year. GAAP EPS of $1.35 declined 2 percent YoY; non-GAAP EPS of $1.42 was up 1 percent. The company raised its full-year revenue outlook to $71 billion, up $1.5 billion from July guidance.
“We’ve been on a multiyear journey to reposition Intel’s portfolio to take advantage of the exponential growth of data. Our third-quarter financial performance underscores our progress as our data-centric businesses turned in their best performance ever, making up almost half our total revenue in a record quarter,” said Bob Swan, Intel CEO. “Our priorities are accelerating growth, improving our execution and deploying capital for attractive returns. We now expect to deliver a fourth record year in a row.”
Some highlights:
- The Data Center Group (DCG) delivered record revenue driven by a strong mix of high-performance Intel Xeon processors and growth in every segment of the business.
- The communications service provider segment grew 11 percent.
- The cloud segment returned to growth, up 3 percent
- Enterprise and government revenue grew 1 percent.
- The Internet of Things Group (IOTG) also achieved record revenue, up 9 percent on strength in retail and transportation.
- Mobileye achieved record revenue, up 20 percent YoY on increasing ADAS adoption.
- Intel’s memory business (NSG) also achieved record revenue, up 19 percent YoY.
- The Programmable Solutions Group (PSG) shipped the first 10nm-based Intel® Agilex™ FPGAs in the third quarter. PSG third-quarter revenue was up 2 percent YoY.
https://www.intc.com/investor-relations/financials-and-filings/earnings-results/default.aspx