As we enter into the time period of Q2 2021 earnings reports from various companies, Intel is one of the early groups to launch its latest report. Intel has faced a lot of strong competition and challenges throughout the previous year from AMD, which has figured into a lot of console and further gaming products, ARM (now under NVIDIA), and with Taiwan Semiconductor Manufacturing and the ongoing semiconductor shortage. Even despite these issues, Intel managed to post a better-than-expected Q2, thanks in large part to business from increased PC volume shipments and Mobileye business.
Intel (INTC) Q2 2021 Earnings Results
Intel posted its Q2 2021 Financial Results report on its investor relations website on July 22, 2021. The results featured a revenue stat of $18.5 billion USD over the last quarter, which was up 2 percent year over year and up $0.7 billion to forecasts. PC volume shipments were a large part of this, featuring a 33 percent increase year-over-year. It would seem that Intel was also able to cash in on the PC demand craze that has highlighted much of the previous year during the COVID-19 pandemic. It wasn’t just PC though. Intel’s Mobileye business also aided the company greatly through the previous quarter, posting “10 additional design wins” and a contract with Toyota Motor Corp to help develop driver assistance systems in the latter’s vehicles.
With these factors in play, Intel’s Q2 2021 Financial Results report suggested higher full year guidance and forecasted an even better Q3 2021. Executives at the company believe that there is little reason to doubt that business will continue to remain strong. It has forecasted an $18.2 billion USD revenue quarter for Q3, which would be a five percent increase year-over-year. It has also forecasted a $73.5 billion full year revenue forecast, up $1 billion from its previous full year forecast.
Be sure to check out the full schedule of video game and tech company Q2 2021 financial results releases. Intel is just the first of many to come and you can find the latest stories and information on quarterly financial reports in the video games and tech industry right here at Shacknews.