July 21 news, Intel announced today the company's second quarter earnings report as of July 2. The financial report showed that Intel’s revenue for the second fiscal quarter was US$13.5 billion, up 3% year-on-year; net profit was US$1.33 billion, down 51% year-on-year.
The second quarter's main financial data
Intel’s revenue for the second fiscal quarter was US$13.5 billion, an increase of 3% from US$13.2 billion in the same period last year; it was down 1% from US$13.7 billion in the previous quarter.
The net profit was 1.33 billion U.S. dollars, 51% lower than the 2.706 billion U.S. dollars of the same period of last year and 35% lower than the 2 billion U.S. dollars of the previous quarter; the earnings per share was 27 cents, 51% lower than the 55 cents of the same period of last year. The 42 cents in the previous quarter fell 36%.
Operating expenses (R&D, general affairs, and administration) were US$5.2 billion, an increase of 2% from US$5 billion in the same period of last year and a decrease of 6% from US$5.5 billion in the previous quarter.
Operating profit was $1.3 billion, down 54% from $2.9 billion in the same period last year and 49% from $2.6 billion in the previous quarter.
Gross profit margin was 58.9%, which was a decrease of 3.6 percentage points from 62.5% in the same period of last year and a decrease of 0.4 percentage points from 59.3% in the previous quarter.
The tax rate was 20.4%, up 11.1 percentage points from 9.3% in the same period of last year and up 2.0 percentage points from 18.4% in the previous quarter.
Compared with analyst expectationsIntel’s revenue in the second fiscal quarter that was not measured in accordance with U.S. GAAP was 13.5 billion U.S. dollars, slightly lower than the 13.58 billion U.S. dollars estimated by Wall Street analysts; and the diluted profit per share that was not measured in accordance with U.S. GAAP was 0.59 U.S. dollars, exceeding Wall Street. Analysts expect $0.54.
Second quarter performance of various departmentsThe client computing unit revenue was US$7.338 billion, a 3% drop from the previous quarter and a 3% year-on-year decrease. The operating profit was US$1.971 billion. Platform business revenue was $6.938 billion, and other business revenue was $400 million.
The revenue of the data center department was US$4.027 billion, which was a 1% increase from the previous quarter and a year-on-year increase of 5%; operating profit was US$1.765 billion. Platform business revenue was 3.718 billion U.S. dollars, and other business revenue was 309 million U.S. dollars.
The revenue of the Internet of Things sector was US$572 million, a 12% decrease from the previous quarter and an increase of 2% year-on-year; operating profit was US$89 million. Platform business revenue was 497 million U.S. dollars, and other business revenue was 75 million U.S. dollars.
Non-Volatile Storage Solutions revenue was $554 million, a 1% decline from the previous quarter and 20% year-over-year; operating losses were $224 million.
Revenue from the security sector was US$537 million, which was unchanged from the previous quarter and was up 10% year-on-year; operating profit was US$97 million.
Programmatic solution revenue was $465 million, a year-on-year increase of 30%; operating losses were $62 million.
summary
Since personal computer shipments fell to the lowest level in nearly a decade this year, the personal computer market contributed nearly 60% of Intel's revenue. During the business transformation period, the profit growth of the two major data centers and the Internet of Things, operating income in the second quarter were less than expected. At the same time, Intel announced a layoff of 12,000 people three months ago, and restructuring costed 1.4 billion U.S. dollars, a huge expense. Therefore, during the period of business transformation and internal restructuring, the net profit fell compared to the same period of last year was also expected by people.
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