Intel posts better-than-expected Q2 2020 earnings

Posted on Thursday, July 30 2020 @ 16:18 CEST by Thomas De Maesschalck
INTC
I just got back from a holiday so it's time to catch up with some of the things we missed over the past week. First up are Intel's financial results for Q2 2020. The results itself were pretty good, the chip giant achieved higher revenue and net earnings than analyst's expected, but as usual the devil is in the details (a delay of 7nm).
News Summary:
  • Second-quarter revenue of $19.7 billion was up 20 percent year-over-year (YoY). Data-centric revenue* grew 34 percent, accounting for 52 percent of total revenue; PC-centric revenue grew 7 percent YoY.
  • Second-quarter GAAP earnings-per-share (EPS) was $1.19, up 29 percent YoY; non-GAAP EPS of $1.23 was up 16 percent.
  • Year-to-date, generated $17.3 billion cash from operations and $10.6 billion of free cash flow and paid dividends of $2.8 billion.

    Accelerating 10nm product transition; 7nm product transition delayed versus prior expectations. Expecting full-year revenue of $75 billion; GAAP EPS of $4.53 and non-GAAP EPS of $4.85. SANTA CLARA, Calif., July 23, 2020 -- Intel Corporation today reported second-quarter 2020 financial results.

    “It was an excellent quarter, well above our expectations on the continued strong demand for computing performance to support cloud-delivered services, a work- and learn-at-home environment, and the build-out of 5G networks,” said Bob Swan, Intel CEO. “In our increasingly digital world, Intel technology is essential to nearly every industry on this planet. We have an incredible opportunity to enrich lives and grow this company with a continued focus on innovation and execution."
  • Full details at INTC.


    About the Author

    Thomas De Maesschalck

    Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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