Though Intel reported solid second-quarter revenue while weathering the pandemic, the companyâ€™s outlook appears to be much more grim. Intel said it was delaying its next-generation 7nm transition, pushing it out a full year behind the companyâ€™s internal target.
Intelâ€™s second-quarter results were very much a mixed bag. The company said in a press release that it is accelerating its transition to 10nm chips, with the upcoming Tiger Lake chip â€œlaunching soon,â€� and a 10nm-based â€œIce Lakeâ€� chip designed for servers planned before the end of the year. But Intel also said it wonâ€™t deliver a 10nm desktop CPU until the second half of 2021.
In fact, Intelâ€™s Data Center Group (DCG) easily outpaced the PC business, reporting 43-percent revenue growth and overall revenue of $7.1 billion. The PC-centric Client Computing Group reported just 7-percent revenue growth, for a total of $9.5 billion. Overall, Intel beat analyst projections compiled by Yahoo Finance, with overall net income of $5.1 billion (up 22 percent from a year ago) on revenue of $19.7 billion (up 20 percent year over year).