Intel not feeling any pain from AMD, posts record Q3 results

Despite all the bad press this year, Intel once again posts record revenue. In the third quarter, the company recorded quarterly revenue of $19.2 billion, a 19 percent year-over-year increase. Data-centric revenue was up 22 percent, while PC-centric revenue rose 16 percent. This resulted in net income of $6.4 billion, a massive 42 percent increase versus a year ago!

Looking at the non-GAAP figures Intel posted earnings per share of $1.40, a 39 percent year-over-year increase. Revenue beat analysts expectations by over $1 billion, while non-GAAP EPS was 25 cents per share higher than consensus.

There's even more good news as the company also raised its full-year outlook to $71.2 billion, up $1.7 billion from the July guidance. To put that in perspective, $1.7 billion is more than what AMD sold in Q3 2018. Clearly, at least at this moment, Intel isn't feeling any pain from the renewed competition in the CPU market.

Intel's shares are up 2.73 percent $45.52 in after-hours trading.

Intel Corporation today reported third-quarter 2018 financial results. Third-quarter revenue of $19.2 billion was an all-time record, up 19 percent YoY driven by broad business strength and customer preference for performance-leading products. The Client Computing Group (CCG), the Data Center Group (DCG), the Internet of Things Group (IOTG), the Non-volatile Memory Solutions Group (NSG) and Mobileye all achieved record revenue. Collectively, data-centric businesses grew 22 percent, led by 26 percent YoY growth in DCG. PC-centric revenue was up 16 percent on continued strength in the commercial and gaming segments. Lots of folks are enjoying new systems to play online casino Newzealand games at home. Excellent operating margin leverage and a lower tax rate drove record quarterly EPS.

“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 the fourth quarter, we remain focused on the challenge of supplying the incredible market demand for Intel products to support our customers' growth. We expect 2018 will be another record year for Intel, and our transformation positions us to win share in an expanded $300 billion1 total addressable market.”