Tech powerhouse Intel has issued its Q1 earnings report, revealing strong data centre and PC revenue, pushing both earnings per share and revenue higher than analyst expectations.
Intel said its Data Centre Group, which builds chips for cloud providers and enterprise-focused server makers, ended the quarter with $6.99 billion in revenue, surpassing analyst estimates of $6.32 billion.
According to a CNBC report, the department registered growth of 42.7 percent, up from $4.9 billion in Q1 2019.
The firm also said it expects the demand for data centre-related offerings to remain “strong” across the first half of the year. In the second half, it expects weaker enterprise and government demand.
Intel’s Client Computing Group, which develops and builds PC chips, ended the quarter with $9.78 billion in revenue – a 13.8 per cent increase year-on-year, and markedly higher than analysts anticipated.
The company also issued a statement touching on the effects of coronavirus on its business operations.
“The company maintained essential factory operations with greater than 90 percent on-time delivery while supporting employees, customers and communities in response to the Covid-19 pandemic,” it said.
The company reported earnings of $1.45 per share and total revenue of $19.83 billion.