Intel attributes US$14.5bn Q3 results to IoT growth

14 Oct 201542 Shares

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For its Q3 results for this year, Intel has posted a quarterly revenue of US$14.5bn and net income of US$3.1bn, which, the company said, was down to growth in its internet of things (IoT) division, among other factors.

In its posting of the results, Intel said that the company’s finances have been flat year-over-year, but were above the midpoint of outlook with a gross margin of 63pc and were consistent with its previous outlook.

However, the company’s net income figure is actually down compared with the same time in 2014 when it posted revenue of US$3.3bn amid the slowdown in its PC business.

Of particular benefit to Intel, the report said, was its IoT division, which has received considerable backing in recent years and brought in US$581m in revenues in Q3, up 4pc on the previous quarter and up 10pc year-over-year.

Meanwhile, its data centre division generated revenues of US$4.1bn, which had improved by 8pc on last quarter and 12pc year-over-year.

Describing these results as solid, Intel also commented on what it saw as showing growing consumer enthusiasm for its sixth generation processors.

“We executed well in the third quarter and delivered solid results in a challenging economic environment,” said Brian Krzanich, Intel CEO. “The quarter demonstrates Intel innovation in action. Customers are excited about our new sixth generation Intel Core processor, and we introduced our breakthrough 3D XPoint technology, the industry’s first new memory category in more than two decades.”

According to the BBC, the company is in the midst of an acquisition of Altera, a chip manufacturer, for a total of US$6.7bn, which is expected to be given the green light by the European Union sometime later this week.

The company is hoping to merge Altera’s chip business with its own to expand the higher-end sector of chip production in data servers, so as to focus more on consumer-level tech.

Intel image via Shutterstock

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Colm Gorey is a journalist with Siliconrepublic.com

editorial@siliconrepublic.com