Intel revenue up 23% to $19 billion in Q1, operating income spikes 69%

Tech titan Intel reports strong Q1 results thanks to growth in all segments from data center to PC gaming.

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Today Intel announced its Q1'2020 results for the period ending March 31, 2020, and they're quite good. The chip-maker earned $19.8 billion in total net revenues across all segments, up 23% year-over-year, driven by strong adoption of its new Xeon processors in the Data Center Group segment. Operating income, or revenues generated from operations, was up a staggering 69% YoY to $7 billion, and total profits for the quarter jumped by a whopping 42% from last year to $5.7 billion. Earnings per share (EPS) was up a tremendous 51% to $1.31 in the quarter.

Intel's important segments rose quite a bit during Q1. The PC gaming Client Computing Group, which makes the lion's share of Intel's earnings, jumped by a healthy 14% to $9.8 billion thanks to hardware purchases and the release of Intel's latest 10th-gen H-series chips in newer gaming notebooks.

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"The PC-centric business (CCG) exceeded expectations, up 14 percent YoY in the first quarter on improved CPU supply and demand strength as consumers and businesses are relying on PCs for working and learning at home. Recently, Intel launched the 10th Gen Intel Core H-series mobile processors, including a new processor delivering desktop-caliber performance that gamers and creators can take anywhere," reads the press release announcement.

DCG, or Data Center Group, was up 43% driven by adoption of its Xeon client CPUs and a substantial spike in cloud services revenue (up 53% YoY). Intel's NSG memory group, which makes solutions like its Optane storage tech, also saw a big 46% jump to $1.3 billion. This was a record high for the segment.

The company expects its Q2'20 earnings to dip to $18.3 billion in net revenues and $1.04 EPS.