Chipmaker Intel has reported a record fourth-quarter earnings figure, which marked the quarter as ‘stronger than expected’. Intel has seen a surge in revenue figures for a fifth consecutive year now on account of the improved PC sales during the ongoing Coronavirus pandemic.
The California based company outweighed analysts’ figures after it reported an adjusted (non-GAAP) $1.52 a share on revenue of $20 billion in the December quarter. While the predictions sat at a $1.10 a share on the revenue of $17.49 billion, Intel continued to see results similar to the $1.52 a share on sales of $20.1 billion in the year’s earlier figures.
Intel beat its own projected figures with a comfortable margin. Although the company’s fourth-quarter net income sat at $5.86 billion, compared to its $6.91 billion income the previous year, impressive records over an underestimated figure are accredited to substantial revenue from PC and data center earnings.
It was also reported that in addition to the company’s client and data center, memory and mobileye business saw themselves hit record revenues too.
The company also reported a 33% increase in PC chip sales compared to last year. The sales mostly rose from an increase in demand of the chip on the client-side as the world witnesses the fastest PC market growth rate since the dawn of the last decade. Since the pandemic began, businesses have been shifting to homes, which marks an increase in PC demand.
Counterpart AMD has been struggling to meet the demands for its leading Ryzen processors. Shortage in supply from AMD had especially been reported extensively in the holiday season. This factors into Intel’s $40.1 billion yearly revenue – an increase of $3 billion over the figures of 2019.
Furthermore, Intel also noted that most of its growth is associated with the notebook segment, which witnessed a 30% increase in revenue compared to the previous year. The company saw a 54% increase in the quarterly volumes and a 28% increase when accounting for the whole year.
However, pricing for the products saw a decline by 15% by the quarter and 6% for the year, which the company mentioned is because of increasing competition in the markets with products like the Chromebook.
Intel also mentioned that it had fixed the ongoing issues with its 7mm chipset, whose manufacturing will be outsourced for the company’s 2023 products.