Intel’s Data-Centric Businesses went up by 26 percent.
Data-centric businesses were the main highlight for Intel’s Q2 results where they were up by over a quarter from last year.
The American multinational reported revenues of $5.5 billion for their data business segment, growing by 26 percent year-over-year.
Growth for the company’s data-centric business has been driven by its Data Center Group, going up nearly a third (27 percent) from its Q2 2017 figure to $5.5 billion.
High demand from cloud and communication providers investing in data alongside customer preference for Intel’s Xeon Scalable processors also played a factor in those results.
It has been a difficult period for Intel after their previous CEO Brian Krzanich resigned over a month ago.
Intel’s overall revenue has shot up by a quarter year-over-year to $17 billion, up by $2.2 billion from their Q2 2017 figure of $14.8 billion.
PC-Centric Business Up for Intel
PC continues to be a revenue driver for Intel as the segment’s revenue went up by six percent from Q2 2017.
The Client Computing Group within Intel’s PC-centric business delivered $8.7 billion in revenue this quarter.
The company launched a sleuth of eight-generation Intel Core processors for gaming, high-performance laptops and business.
It included the eighth generation Intel Core i9 processor, Intel Core vCore processors and the limited-edition Intel Core i7-8086K.
Data-Centric Businesses on the Rise
Every data-centric business within Intel all reported revenue increases, reflecting the company’s transition from semiconductors to data.
Intel’s Internet of Things Group, Non-Volatile Memory Solutions Group and Programmable Solutions Group all shot up in their Q2 results.
The company’s NSG business was up 23 percent to $1.1 billion, while IOTG and PSG also shot up to $880 million and $517 million respectively.
Robert Swan, Interim CEO and Chief Financial Officer for Intel commented: “After five decades in tech, Intel is poised to deliver our third record year in a row. We are uniquely positioned to capitalize on the need to process, store and move data, which has never been more pervasive or more valuable,
“Intel is now competing for a $260 billion market opportunity, and our second quarter results show that we’re winning. As a result of the continued strength we are seeing across the business, we are raising our full year revenue and earnings outlook.”