Intel reports buoyant Q3, forecasts strong year
The quarterly revenue was $19.2 billion, up 19 percent year-over-year and the net income was $6.4 billion, up 42 percent year-on-year. Intel is forecasting fourth quarter revenue of about $19 billion and full year revenue of $71.2 billion, up 14.2 percent over full year 2017.
Intel reported that its personal computer oriented sales were up 16 percent while its datacentric computing was up 22 percent.
“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 a statement. Swan added that Intel is in a position to win market share in an expanded $300 billion total addressable market.
ADAS processor acquisition Mobileye achieved record quarterly revenue of $191 million, up approximately 50 percent YoY and brought its year-to-date design win total to 20.
While processor and non-volatile memory sales performed well two business units that did less well were the IoT group and the programmable solutions group, which includes Altera. The IoT group sales were $919 million, up 8 percent YoY. PSG sales were $496 million, up 6 percent YoY.
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