Data center, IOTG and PC demand drives Intel profit beat

Stronger than expected customer demand across our PC and data-centric businesses continued in the third quarter.

Intel Corporation today reported third-quarter 2018 financial results. Third-quarter revenue of $19.2 billion was an all-time record, up 19 percent YoY driven by broad business strength and customer preference for performance-leading products.

The Client Computing Group (CCG), the Data CenterGroup (DCG), the Internet of Things Group (IOTG), the Non-volatile Memory Solutions Group (NSG) and Mobileyeall achieved record revenue. Collectively, data-centric businesses grew 22 percent, led by 26 percent YoY growth inDCG. PC-centric revenue was up 16 percent on continued strength in the commercial and gaming segments. Excellent operating margin leverage and a lower tax rate drove record quarterly EPS.

"Stronger than expected customer demand across our PC and data-centric businesses continued in the third quarter. This drove record revenue and another raise to our full-year outlook, which is now up more than six billion dollars from our January expectations. We are thrilled that in a highly competitive market, customers continue to choose Intel," said Bob Swan, Intel CFO and Interim CEO.

"In the fourth quarter, we remain focused on the challenge of supplying the incredible market demand for Intel products to support our customers' growth. We expect2018 will be another record year for Intel, and our transformation positions us to win share in an expanded $300billion1 total addressable market."