Intel’s Q2 earnings report has exceeded expectations for 10 consecutive quarters: PC business has risen sharply

On July 23, Intel Corporation released its Q2 2021 financial report. Revenue under GAAP rules was $19.6 billion, flat year-on-year, and adjusted revenue was $18.5 billion, a year-on-year increase of 2%, which was 7% higher than the guidance announced in the previous quarter. It has exceeded expectations for 10 consecutive quarters, of which the revenue of the PC personal computer business has risen sharply, exceeding $10 billion for the first time.

Since Intel’s flash memory business was announced to be sold to SK Hynix last year, this part of the business will be adjusted, so this financial report can better reflect Intel’s real performance data under non-GAAP rules.

Based on non-GAAP rules, Q2 revenue was US$18.2 billion, gross profit margin was 59.2%, an increase of 2.9 percentage points, net profit was US$5.2 billion, up 6% year-on-year, and EPS was US$1.28, a year-on-year increase 12%.

In terms of specific business, the CCG client computing division’s revenue was US$10.1 billion, a year-on-year increase of 6%, setting a new high and exceeding analysts’ expectations of US$10 billion, which means that the PC computer business is still growing rapidly in Q2 this year. , Intel said PC platform shipments surged 33%.

The DCG data center segment revenue was US$6.5 billion, down 9% year-on-year, but up 16% month-on-month, which also exceeded analysts’ expectations. Last year, the DCG segment surged mainly due to the outbreak of data centers caused by global telecommuting. Slow down, and the competition from AMD and NVIDIA is even more pressured.

Intel’s Internet of Things division, IOTG, posted revenue of $984 million in the second quarter, a modest increase of 47 percent year-on-year.

Mobieye, the autonomous driving division, had revenue of $327 million, up 124% year-on-year.

NSG Non-Volatile Storage Solutions revenue was $1.1 billion, down 34% year over year, and Programmable Solutions revenue was $486 million, down 3% year over year.

Intel also raised its full-year revenue guidance from $77 billion to $77.6 billion. CEO Kissinger said the semiconductor industry’s golden decade has begun.