Many sectors of the tech industry posted significant profit growth last year, and today we learn that Intel is no exception. The company posted higher-than-expected earnings, with 33% growth in the PC division alone. Overall, Intel’s 2020 revenue was $77.9 billion.
“We significantly exceeded our expectations for the quarter, completing our fifth consecutive record year,” Intel’s interim CEO Bob Swan said in an official statement.
“It has been an honor to lead this wonderful company, and I am proud of what we have accomplished as a team. Intel is in a strong strategic and financial position as we make this leadership transition and take Intel to the next level.
As a result, Intel brought over $2.6 billion in revenue in the fourth quarter of 2020, more than expected. This was driven by record revenue in the PC segment, which saw a 33% year-over-year increase in PC unit volume, led by record notebook sales.
The Blues also saw impressive growth of 39% in Mobileye, a technology for autonomous vehicles.
Intel is expected to discuss its plans and strategies for 2021 after Pat Gelsinger, the company’s new CEO, took the helm in February. The company forecasts a profit of $17.5 billion for the first quarter of the year.