Intel reported strong financial progress in its third-quarter results and promised continued financial success in the months to come. The company also made a few general nods to 5G and how the technology could fuel its business in the future.
“In both our data-centric and PC businesses, our CPU leadership puts us in a great position to capitalize on this massive data opportunity by delivering more value to a broader set of customers,” said Robert Swan, Intel’s interim CEO, who replaced Brian Krzanich after he resigned because he was having a relationship with a coworker. “We've expanded beyond CPUs with memory, modems, FPGAs, and silicon for emerging high-growth workloads like ADAS, artificial intelligence, and 5G communications.”
"Specifically, our comm service provider segment grew 30% year over year, as customers continued to transform their networks with Intel architecture as they prepare for 5G,” Swan added, according to a Seeking Alpha transcript of his remarks during the company’s quarterly conference call.
Swan’s comments are noteworthy considering Intel is working to create momentum for its brand in the wireless industry. Most recently, the company outlined its “big bet” on 5G during a presentation at the Mobile World Congress Americas trade show in Los Angeles in September.
“At Intel we have an end-to-end strategy to address 5G,” Sandra Rivera, SVP and GM of Intel’s Network Platforms Group, said in September. “We’re taking 5G out of the lab and into real life.”
Intel also gained notoriety recently by replacing Qualcomm in some of Apple’s newest iPhones. However, Swan made only passing references to 5G and mobile and wireless technologies during Intel’s quarterly conference call with investors this week.
Nonetheless, the company reported serious progress overall in terms of its finances; as the Wall Street Journal pointed out, Intel posted 19% growth in revenue and a 42% rise in profits.
Further, Intel said the good times will likely continue; the company’s fourth-quarter forecast for revenue of about $19 billion topped Wall Street’s estimates.