Intel Posts Historic Revenue For Q3 2019 Despite Competition From AMD
Intel announced its Q3 financial results of the year last week, and the numbers are record-breaking.
The earning per share (EPS) was $1.42 while the expected figure was $1.24 per share. The revenue came in at $19.2 billion, beating last year’s comparative number by $27 million. This is the highest amount of revenue the company has ever made.
Intel’s data center business has always been the company’s main source of revenue and it has proven its worth this year yet again. This part of Intel’s business focuses on server chips and it has continued to grow with reported revenue of $6.38 billion, also higher than analyzed expectations.
Intel’s other major business, the Client Computing Group, works on consumer-level hardware including desktop PCs, laptops, two-in-one devices, etc. This segment reported $9.59 billion in revenue, which was slightly better than expected figures, but down by 5% compared to last year. The company blames this fall on a low yield of consumer-level chips this year.
The IoT group (Internet of Things) responsible for producing industry level computing products also reported a record revenue which was up by 9% compared to last year.
As for the decline in the Client Computing Group, CEO Bob Swan commented that the company needs improvements in several key areas. The situation in this segment is indeed a cause for concern, especially since reports are claiming that Intel’s consumer CPU shortage is going to continue through 2020.