And 10nm still on for Xmas 2019, sometime 2020, depending on CPU model
Intel’s CEO Bob Swan told Wall St on Thursday he had « the best job in the world, » though it can’t have felt like it as he announced his first full quarter’s financial figures as the official head honcho.
The chip-slinger has been hit by a triple whammy of woe, he explained. Demand for Intel hardware in China has been much smaller than expected, the continuing fall in NAND prices has hurt memory revenues, and data center buyers who overstocked to deal with earlier supply shortages are now using up their inventory instead of buying new kit.
« We shipped a strong mix of high performance products and continued spending discipline while ramping 10nm and managing a challenging NAND pricing environment, » Swan said. « Looking ahead, we’re taking a more cautious view of the year, although we expect market conditions to improve in the second half. »
You can find Intel’s Q1 2019 figures here [PDF] though here’s a quick summary for those first three months of the year:
Revenue was $16.1bn for the quarter, showing no growth year-on-year though beat Wall St’s estimates by $70m. Intel predicted revenues will fall further to $15.1bn in the second quarter of the year.
Net income for the quarter fell 11 per cent, year on year, to $4bn. You could argue that $4.4m in profit a day isn’t bad, but the decline has no doubt been a factor today’s Intel stock price dip.
Earnings per share suffered as a result of the profit drop.
