Intel Reports First-Quarter 2018 Revenue of $16.1 Billion 

SANTA CLARA, Calif., April 27, 2018 -- Intel Corporation has reported first-quarter 2018 financial results.

In summary:

• Record first-quarter revenue was $16.1 billion, up 13 percent year-over-year on strength of Intel's data-centric businesses, which accounted for 49 percent of first-quarter revenue.
• Data-centric growth and operating margin leverage boosted earnings-per-share (EPS), which rose 53 percent year-over-year; non-GAAP EPS was up 32 percent year-over-year.
• Intel is raising its full-year revenue and earnings outlook based on this strong start; expecting 2018 revenue of $67.5 billion, up $2.5 billion from prior guidance.

"Coming off a record 2017, 2018 is off to a strong start. Our PC business continued to execute well and our data-centric businesses grew 25 percent, accounting for nearly half of first-quarter revenue," said Brian Krzanich, Intel CEO. "The strength of Intel’s business underscores my confidence in our strategy and the unrelenting demand for compute performance fueled by the growth of data."

“Compared to the first-quarter expectations we set in January, revenue was higher, operating margins were stronger and EPS was better," said Bob Swan, Intel CFO. "Our data-centric strategy is accelerating Intel’s transformation, and we’re raising our earnings and cash flow expectations for the year."

In the first quarter, Intel saw strong performance from data-centric businesses, which accounted for approximately half (49%) of Intel's revenue, an all-time high. The Data Center Group (DCG) achieved growth in all market segments and saw increasing adoption of Intel Xeon Scalable processors, including for artificial intelligence workloads. Non-Volatile Memory Solutions Group (NSG) revenue grew 20 percent as strong demand for storage continued. The Programmable Solutions Group (PSG) won new designs with server OEMs adding Intel’s field programmable gate array (FPGA) acceleration to their data center offerings, and strong demand from retail and video customers drove first-quarter growth in the Internet of Things Group (IOTG).

The Client Computing Group (CCG) continued its strong execution and introduced a new lineup of high-performance mobile products including the 8th Gen Intel Core i9 processor and a new Intel Core platform extension that brings together the benefits of 8th Gen Intel Core processors with Intel Optane memory. We continue to make 14 nm process optimizations and architectural innovations in both data center and client products that will be coming this year. Intel is currently shipping low-volume 10 nm product and now expects 10 nm volume production to shift to 2019.

In autonomous driving, Mobileye continued momentum with automotive customers and recently won a high-volume design for EyeQ*5. The company also began operating autonomous vehicle test cars in Israel with plans to expand the fleet to other geographies.

Additional information regarding Intel’s results can be found in the Q1'18 Earnings Presentation available at: www.intc.com/results.cfm.

Link to full Q1 results with charts: https://www.intc.com/investor-relations/investor-education-and-news/investor-news/press-release-details/2018/Intel-Reports-First-Quarter-2018-Financial-Results/

About Intel

Intel (NASDAQ: INTC) expands the boundaries of technology to make the most amazing experiences possible. Information about Intel can be found at newsroom.intel.com and intel.com.

Source: Intel Corp.