Intel reports 2nd quarter revenue of $19.7 billion, up 20% year on year

Intel announced financial results for the second quarter of 2020. According to the report, the company’s sales in the second quarter amounted to 19.7 billion dollars, an increase of 20% over the previous year; net profit was 5.1 billion dollars, an increase of 22% over the previous year.

Results for the Intel’s second quarter of 2020

Intel reports 2nd quarter revenue of $19.7 billion, up 20% year on year

The company’s revenue for the second quarter was $19.7 billion, an increase of 20 percent over the same period last year. Datacenter revenues grew 34% year-over-year and accounted for 52% of the company’s total revenues, while PC central office revenues grew 7% year-over-year. These results benefited from strong sales of cloud computing, notebooks, storage, and 5G products.

In the second quarter, the Company’s PC-centric revenues grew 7% year-over-year, driven by continued activity in the home-based and homeworking segments. Sales of desktop computers declined as demand shifted to laptops.

The company’s net income for the second quarter was $5.1 billion, up 22 percent compared to $4.2 billion in the same period last year.

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On a GAAP basis, the company earned $1.19 per share in the second quarter, up 29 percent year-over-year, and $1.23 per share on a non-GAAP basis, up 16 percent year-over-year.

Intel: Outlook for third quarter 2020 results

Intel expects the public to see revenues of approximately $18.2 billion, an operating margin of approximately 28%, and earnings per share of approximately $1.02 in the third quarter of 2020.

In addition, the company expects full-year 2020 revenues of approximately $75 billion, an operating margin of approximately 30%, and earnings per share of approximately $4.53.