Intel Q1 2022 earnings: Revenues rise 23 percent with solid PC growth
Intel today reported its start-quarter results for 2022, noting revenues were upward 23 percent compared to Q1 2022 at $nineteen.8 billion. Net income also rose significantly to $5.7 billion, up from $four billion in 2022.
"Our commencement-quarter performance is a attestation to our team's focus on safeguarding employees, supporting our supply concatenation partners and delivering for our customers during this unprecedented challenge," Intel CEO Bob Swan said in a printing release. "The office engineering plays in the world is more essential at present than it has ever been, and our opportunity to enrich lives and enable our customers' success has never been more than vital. Guided by our cultural values, competitive advantages and financial force, I am confident we volition emerge from this situation an even stronger company."
Breaking things downwardly, Intel says it saw its information-centric revenue grow by 34 percent, while PC-centric revenue grew by 14 percent. The company says it was able to maintain "essential factory operations with greater than 90 percent on-time delivery" despite challenges from the COVID-19 pandemic.
The rising in PC-axial acquirement was due to an uptick in supply and increased demand for the quarter. This jives with a recent annotator report fron Canalys that said PC demand "soared" in Q1 2022.
The Q2 outlook for the PC market place is less bullish, still, and Intel's forecasts for the quarter match that. The company says it expects revenues to country around $eighteen.5 billion for Q1, which was below analyst expectations. Intel'south stock dropped nearly six percent in after-hours trading.
Updated February 2022
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Source: https://www.windowscentral.com/intel-q1-2020-earnings-revenues-rise-23-percent-solid-pc-growth
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