Home Technology Intel’s Profit Boosted by Strong Demand for Server Chips

Intel’s Profit Boosted by Strong Demand for Server Chips

0
Intel’s Profit Boosted by Strong Demand for Server Chips
Photo / popsci

Intel Corp. surprised with profitable Q2 results; PC market slide slowed, Q3 forecast optimistic. Earnings: $8.1B, 87 cents/share, a stark contrast to last year’s $5.4B loss. Revenue fell 20% to $16.9B, still outperformed analysts’ projections.

Photo / popsci

Strong demand for server chips drove Intel’s upswing. PC market decline easing, Q2 shipments fell 11.5%. Q3 forecast: 20 cents/share, revenue $12.9B-$13.9B, exceeding estimates. Positive news led to 5.5% share increase in after-hours trading.

Intel’s CEO optimistic about PC market and data center growth. Data center group revenue saw notable 23% growth in Q2. Intel gradually recovering from intense competition with AMD and Nvidia.

Strong Q2 performance cements Intel as a dominant chip market player. Investors and analysts optimistic about Intel’s future prospects.

Intel’s results are a sign that the chipmaker is starting to recover from a difficult period. The company has been facing increasing competition from rivals like AMD and Nvidia. However, Intel’s strong results in the second quarter suggest that it is still the dominant player in the chip market.

ALSO READ  US-China Chip War Heats Up as Companies Meet with Officials