Intel just posted its best growth in 15 years – and burned billions to make it happen
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The takeaway: There was a point not long ago when Intel was in so much trouble that a takeover of the company seemed inevitable. Now, Team Blue has turned its business around to the point where it's just experienced its fastest growth in 15 years, but it's come at a very high cost.
Intel reported second-quarter revenue of $16.1 billion, up 25% year over year and well ahead of Wall Street's expectations. Adjusted earnings reached $0.42 per share, almost double analysts' forecasts, while the company expects current-quarter sales of between $15.8 billion and $16.8 billion.
Courtesy of the Financial Times
As with so many tech giants, Intel's biggest contributor was its Data Center and AI division. Revenue from the unit jumped 59% to $6.3 billion as demand for CPUs used alongside AI accelerators...
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