What you need to know
- Intel reported a 33% uptick in PC unit sales in Q2 compared to the same quarter last year.
- The company beat its expectations and those of experts in Q2.
- Despite beating expectations, Intel's stock fell by 2% due to guidance regarding the third quarter of this year.
Intel shared its second quarter earnings yesterday (via CNBC). The company saw a 33% increase in PC unit sales, which helped it beat its own expectations for the quarter. Intel also passed the expectations of experts for Q2 2021.
"Our second-quarter results show that our momentum is building, our execution is improving, and customers continue to choose us for leadership products," said Intel CEO Pat Gelsinger.
Despite the increase in PC sales and passing expectations, Intel's stock dropped by 2% following the report. That drop was likely due to Intel guiding its non-GAAP margins to 55% in Q3 compared to the 59.2% seen in Q2.
Intel also shared highlights from the quarter:
- Announced a $3.5 billion investment to equip Intel's New Mexico operations for the manufacturing of advanced semiconductor packaging technologies, including Foveros.
- Launched 12 new processors for client, including 11th Gen Intel Core with Intel® Iris Xe graphics and Intel® Xeon W-11000 series processors with more than 300 designs expected this year.
- Announced partnership with Microsoft including Intel Bridge Technology to deliver better mobile experiences on Windows-powered PCs.
- Leading cloud service providers, including Alibaba, Baidu, Microsoft, and Oracle are offering services based on the latest 3rd Gen Intel Xeon Scalable ("Ice Lake") processors.
- Unveiled the Intel Network Platform and expanded networking leadership product portfolio with new FPGA, software, and Ethernet solutions.
- Announced partnership with Ericsson to expand cloud radio access network to increase 5G performance.
- Mobileye and ZF were selected by Toyota Motor Corp to develop advanced driver assistance systems.
- Announced Mobileye as the only company holding an autonomous vehicle testing permit in New York.
- Announced new organizational changes and welcomed renowned technologists to strengthen execution and innovation in critical business areas.
While low stock and a global chip shortage have affected all PC part manufacturers, demand for PCs continues to be high. People continue to work and study from home, raising the demand for computers.