Intel sets new record with $72bn 2019 revenues

Chip giant Intel has set a new record for full-year revenues, collecting $72 billion across the course of 2019.

For the final three months of the year, Intel brought in revenues of $20.2 billion, an increase of 8% year-on-year, while sales for the 12 months can in at $72 billion, a 2% increase compared to 2018. Net income remained flat for the year at $21 billion.

“In 2019, we gained share in an expanded addressable market that demands more performance to process, move and store data,” said CEO Bob Swan.

“One year into our long-term financial plan, we have outperformed our revenue and EPS expectations. Looking ahead, we are investing to win the technology inflections of the future, play a bigger role in the success of our customers and increase shareholder returns.”

Although Intel has faced its difficulties over the last few years, it seems shareholders are very pleased with performance, a month into Swan’s tenure. Share price has jumped 19% over the course of the last six months, including a 5.5% increase in overnight trading since the results have been announced.

Looking at the individual business units, the Data Centre Group revenues increased to $23.5 billion across the year, up 2%. The IOT business unit brought in $3.8 billion, up 11% compared to 2019. The PC-centric business increased revenues 2% in the final quarter, but performance was flat across the year bringing in $37.1 billion.

Under intense competition from the likes of Advanced Micro Devices though it appears enthusiasm for product launches at CES earlier this month have been backed up on the spreadsheets.