Intel revenue rises to nearly €17bn in second quarter
Chipmaker sees demand boosted by booming cloud computing market
Intel employs close to 5,000 in Ireland. Photograph: Reuters
Intel topped Wall Street estimates for quarterly profit and revenue on Thursday, as a booming cloud computing market drove higher demand for chips used in data centres.
Net income rose to $5.01 billion (€4.3 billion), or $1.05 per share, in the second quarter ended June 30th, from $2.81 billion, or 58 cents per share, a year earlier.
Net revenue rose 14.9 per cent to $16.96 billion.
Excluding items, the company earned $1.04 per share.
Analysts on average were expecting adjusted earnings of 96 cents per share and revenue of $16.77 billion, according to Thomson Reuters.
The company is in the midst of a chief executive search following the ousting of Brian Krzanich last month after an investigation found he had a consensual relationship with an employee in breach of company policy. Chief financial officer Robert Swan has been acting as interim chief executive officer.
Intel employs 4,900 people in Ireland, most of whom work at its flagship facility in Collinstown Industrial Park, in Leixlip, Co Kildare.