Intel Announces Second-Quarter 2024 Financial Results
Company Reports Strong Growth in Core Businesses
Unison Platform to Enhance Laptop Experiences
Santa Clara, Calif. - July 20, 2024 - Intel Corporation today reported financial results for the second quarter of 2024. The company delivered strong growth in its core businesses, driven by increased demand for its server, client, and graphics products. Intel also announced the launch of its Unison platform, which will provide a seamless and secure way to connect laptops and smartphones.
"We are pleased with our strong financial performance in the second quarter," said Pat Gelsinger, Intel CEO. "Our core businesses are performing well, and we are making progress on our strategic initiatives. The launch of Unison is a significant milestone, and we believe it will enhance the user experience for our customers."
Intel's second-quarter revenue was $20.6 billion, an increase of 15% year-over-year. Net income was $5.1 billion, an increase of 20% year-over-year. Diluted earnings per share were $0.58, an increase of 23% year-over-year.
The company's Client Computing Group (CCG) reported revenue of $10.2 billion, an increase of 12% year-over-year. This growth was driven by increased demand for Intel's 13th Gen Intel Core processors. The Data Center Group (DCG) reported revenue of $7.2 billion, an increase of 19% year-over-year. This growth was driven by increased demand for Intel's Xeon Scalable processors.
The Accelerated Computing Systems and Graphics Group (AXG) reported revenue of $2.5 billion, an increase of 28% year-over-year. This growth was driven by increased demand for Intel's Arc graphics cards. Intel also announced the launch of Unison, a platform that will provide a seamless and secure way to connect laptops and smartphones. Unison will be available on select Intel Evo laptops based on 12th Gen Intel Core processors from Acer, HP, and Lenovo this year.
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