Healthy increase in PC sales helps Intel post better than expected quarterly results.
Intel has beaten analyst revenue expectations for the first quarter of 2021, riding primarily on strong growth in PC sales. While overall Q1 revenue was down year-on-year due to lethargic sales in the Data Center Group (down 20%), this was more than offset by PC sales. As compared with Q1 2020, PC shipments were up 38 percent, while notebook volumes recorded a jump of 54%, a new record for the company. In terms of absolute revenue, Intel’s PC business (recorded under the Client Computing Group) brought in Q1 2021 revenues of $10.6 billion, which represents growth of eight percent. Q1 2021 was also significant for the company as it experienced a change in leadership with the arrival of a new CEO, Pat Gelsinger, in January 2021.
