Intel reported first quarter revenue of $16.1 billion, flat year-over-year (YoY), with GAAP earnings-per-share (EPS) of $0.87, a decline of 6 percent YoY.
Intel's data-centric revenue declined 5 percent while PC-centric revenue grew 4 percent. The company also trimmed its outlook for the rest of the year.
"Results for the first quarter were slightly higher than our January expectations. We shipped a strong mix of high-performance products and continued spending discipline while ramping 10nm and managing a challenging NAND pricing environment. Looking ahead, we're taking a more cautious view of the year, although we expect market conditions to improve in the second half," said Bob Swan, Intel CEO.
Highlights:
- In the Data Center Group (DCG), the cloud segment grew 5 percent while the communications service provider segment declined 4 percent and enterprise and government revenue declined 21 percent.
- First-quarter Internet of Things Group (IOTG) revenue grew 8 percent YoY (19 percent excluding Wind River1), and Mobileye achieved record first-quarter revenue of $209 million, up 38 percent YoY as customer momentum continued.
- Intel's memory business (NSG) was down 12 percent YoY in a challenging pricing environment.
- Intel's Programmable Solutions Group (PSG) revenue was down 2 percent YoY in the first quarter.
