Intel Corp reported its financial results for the first quarter reporting GAAP revenue of $16.1 billion, an increase of 9%, compared to $14.8 billion in Q1 2017. Net income for Q1 2018 was $4.5 billion, an increase of 50%, compared to $3.0 billion in Q1 2017.
In the first quarter of 2018, Intel corporation made significant growth in data-centric businesses and all the business units showed strong performance. The Data Center Group (DCG) accounted for revenues of $5.2 billion with an increase of 24% and witnessed increasing adoption of Xeon processors, including for artificial intelligence workloads. Revenues of Non-Volatile Memory Solutions Group (NSG) and The Programmable Solutions Group (PSG) grew to $1.0 billion and $498 millions respectively. Strong demand from retail and video customers drove growth in the Internet of Things Group (IOTG) and revenue grew to $840 million, up by 17%. On the other hand, the Client Computing Group (CCG) continued to execute well and brought in revenues of $8.2 billion, up 3% year-over-year.
Intel’s revenue guidance for the year 2018 is $67.5 billion, up $2.5 billion from prior guidance.
