Record Fourth-quarter revenue was $20.2 billion, up 8% year-over-year (YoY).
The company's Data Centre Group has recorded revenue growth of 19 per cent year-on-year, touching $7.2 billion.
Intel's data-centric businesses, which includes the Data Center Group and the Internet of Things Group, saw significantly stronger performance during Q4 as revenue climbed 15 percent.
After years of acquisitions outside its core area of processing chips under previous leaders, Intel Chief Executive Bob Swan has set a goal of becoming more disciplined about spending, slowing investments in areas like memory chips and shedding struggling businesses.
"One year into our long-term financial plan, we have outperformed our revenue and EPS expectations". This is a sign that the manufacturing plague of chipmakers woes over the past few year have started to fade.
The brokerage firm noted that Intel has a healthy free cash flow, dividend yield and a high-ranked ESG (environmental, social and governance) score.
Similarly, Intel indicated that there was a short supply of PC chips.
"It's a little fresh to really have a good understanding of how that specific trade deal is going to have an impact on (Intel's customers') thinking", Davis said.
Analysts now expect earnings to have contracted by 0.5%, on aggregate, in the October to December quarter. Intel attributed the growth of the segment to companies in the retail and transport sector. Sales at the Mobileye unit, which makes chips used to help vehicles pilot themselves, grew 31 percent to US$240 million. The autonomous company raised 879 million dollars this year, an increase of 26 percent. Sales in 2020 will be about US$73.5 billion, the company said late on Thursday in a statement. Gross margin was 58.8 percent in the quarter.
The Client Computing Group in the fourth quarter achieved revenue of $ 10 billion, an increase of 2 percent.
Wall Street came under preure on Friday a invetor old energy, financial and healthcare tock on mounting fear over the coronaviru outbreak in China, while trong gain for chipmaker Intel limited loe on the main indexe. A total of 44 systems feature the 10nm-based Intel Core processors, code named Ice Lake.
The demand for CPUs continued to exceed supply, Swan acknowledged on Thursday. The threat to the USA public is "low at this time", the CDC said.
"In the second half, we expect to bring the server products and most importantly the PC products back to a more normalised inventory level", chief financial officer George Davis said. Our implementation of process technology continues to improve. (NASDAQ:INTC) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission.