Intel Sees Surge in Revenue Driven by Data Center Demand
Intel Corporation (NASDAQ: INTC) reported a 7% year-over-year increase in revenue for Q1 2023, totaling $13.6 billion. The company’s data center and AI division experienced a significant boost, with revenue rising 22% to $5.1 billion. Adjusted net income surged 156% to $1.5 billion, or $0.29 per share, surpassing Wall Street’s expectations of $0.01 per share.
Looking ahead, Intel expects second-quarter revenue between $13.8 billion and $14.8 billion, along with adjusted earnings per share of $0.20. In the same quarter last year, the company reported $12.9 billion in revenue and an adjusted loss of $0.10 per share. This growth is attributed to new partnerships with major tech companies, including Google and Tesla.
