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Intel posts Q4 growth despite PC sales decline

Posted: 18 Jan 2016     Print Version  Bookmark and Share

Keywords:PC market  software and services  sales 

Intel announced that its fourth quarter revenue grew, meeting analysts' expectations. However, the company's 2015 sales slightly declined amid falling PC sales for the fourth consecutive year.

Intel executives said the company finished the year strongly, despite a weaker than expected macroeconomic environment and a weak PC market.

Intel reported fourth quarter sales of $14.9 billion, on the higher side of the company's estimate of $14.3 billion to $15.3 billion. The company reported a net income of $3.6 billion, or 74 cents per share. Both revenue and profit exceeded consensus analysts' expectations, according to Yahoo Finance.

For the full year 2015, Intel reported sales of $55.4 billion, a decline of about 1 per cent compared with 2014. The company reported a net income of $11.4 billion for the year, down 2 per cent compared with 2014.

Intel reported that revenue from its Client Computing Group was $32.2 billion for 2015, down 8 per cent from 2014. The company's Data Center Group posted revenue of $16 billion, up 11 per cent from 2014. The Internet of Things group reported revenue of $2.3 billion, up 7 per cent from 2014.

Revenue was down in the software and services operating segments in 2015, declining 2 per cent from 2014, Intel said. The Non-Volatile Memory Solution Group increased revenue by 21 per cent compared to 2014, Intel said.

"Our results over the last year leave me increasingly confident in our strategy," said Brian Krzanich, Intel's CEO, in a conference call with analysts following the quarterly report. While our outlook for the first reflects some caution about overall demand, particularly in China, we continue to expect solid growth in the business in 2016."

"Revenue for the year was nearly flat, despite a significant decline in PC demand," Krzanich said.

PC shipments declined in 2015 for the fourth straight year, according to market research firms. Despite the sagging PC sales, Intel's revenue dipped only slightly as Intel made increased progress in its strategy to focus on the data centre, the Internet of Things and memory.

Krzanich highlighted a series of milestones that Intel accomplished in 2015, including the acquisition of programmable logic maker Altera Corp. and the introduction of 3D XPoint memory technology, which he described as the industry's first new memory technology in more than two decades. "3D XPoint is a great example of our growth strategy at work, using our technology expertise to innovate and expand into profitably adjacent markets. We think it's a game changing technology moving forward."

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