Due to the coronavirus pandemic, most companies have decided to work remotely. People who work remotely have decided to upgrade or upgrade their PCs so they can do their jobs more comfortably.. For these reasons, in the first quarter of 2020, giant technology company Intel experienced 20% revenue growth and increased its revenue to $ 19.7 billion.
Personal computer-centered revenue increased by 7% compared to the previous year, while data-centric revenue grew 34% to account for 52% of total revenue. Earnings per share were $1.19, up 29%, and non-GAAP earnings per share were $1.23. Analysts had predicted Intel’s revenue growth reports before, but they were unsuccessful in this prediction.. Analysts had expected a report of Intel’s growth per share of $1.11 and revenue growth of $18.45 billion.. After business hours, Intel’s share price dropped 9% to $54.95.
Intel CEO Bob Swan said in a statement, “It’s been a really great quarter for us.. The results exceeded our expectations” and announced that they will support the creation of cloud technologies and 5G networks.
An increase in Total Revenue is also expected
Intel is 20% this quarter experienced revenue growth and generated $19.7 billion in revenue. The company expects full-year non-GAAP growth per share of $4.85 (flat from last year) and $75 billion in overall revenue growth.. 2 of 2020. Data center group revenue increased 43% to $7.1 billion in the quarter. Revenue of the IoT (internet of things) group fell 32% to $670 million. Mobile revenue fell 27% to $146 million. NSG (Flash memory) revenue grew 76% to $1.7 billion. PSG (Programmable chips) revenue rose 2% to $501 million. Finally, the PC division generated $9.5 billion in revenue, up 7%.
Intel said its cloud technology, laptop, memory and 5G products saw high sales.. The company also introduced its third-generation Intel Xeon scalable processors this quarter.
Intel stated that PC chip sales were strong this quarter, and this demand increased due to COVID-19.. In addition, due to the pandemic, there was a decrease in desktop computers as people preferred laptops.
Intel also announced its targets for the 3rd quarter.. The giant company expects a revenue of $ 18.2 billion in the third quarter of 2020.