Intel, the world's largest chip maker by revenue, reported a mostly flat second-quarter net profit, although the company raised its full year 2021 guidance on strong demand for semiconductors globally.
The company’s net profit for the quarter ending on June 30 was $5.1 billion. Its revenue also remained flat at $19.6bn, the company said in a statement.
"There has never been a more exciting time to be in the semiconductor industry," said Pat Gelsinger, chief executive of Intel. He added that the company’s second-quarter results show that “momentum is building, our execution is improving and customers continue to choose us for leadership products".
“The digitisation of everything continues to accelerate, creating a vast growth opportunity for us and our customers across core and emerging business areas,” he said.
In the April-June period, the company generated $8.7bn in cash from operations and paid dividends worth $1.4bn.
“With our scale and renewed focus on both innovation and execution, we are uniquely positioned to capitalise on this opportunity … which I believe is merely the beginning of what will be a decade of sustained growth across the industry,” added Mr Gelsinger.
Intel said it expects third-quarter sales to cross $19bn and full-year revenue to hover around $77.6bn.
The company’s client computing group, which produces chips for personal computers, added $10.1bn in overall sales in the second quarter — almost 6 per cent more than the same period last year.
Intel experienced a dip in the average selling price of PC chips during the quarter and Mr Gelsinger said the company had struggled with chip shortage, but added that it should “bottom out” in the second half of the year.
The company earned $6.5bn from making chips for data centres. However, it was 9 per cent down on a year-on-year basis.
Its Internet of Things group, which manufactures low-power embeddable chips, earned $984 million, almost 47 per cent more than the prior year period.
Sales of Intel’s autonomous driving subsidiary Mobileye were up 124 per cent to $327m in the three-month period. This week, the company said it is testing self-driving vehicles in New York City.
Semiconductor chips are particularly important components for electric and self-driving vehicles. They are used to manage features such as navigation and parking sensors as well as to monitor engine performance.
In April, Mr Gelsinger said the California-based company plans to manufacture in-demand semiconductors for cars to alleviate the shortage that has hobbled the industry worldwide. Intel is in discussions with other entities that design components for car makers to allow them to manufacture chips inside Intel’s factory network.
Killing of Qassem Suleimani
It
Director: Andres Muschietti
Starring: Bill Skarsgard, Jaeden Lieberher, Sophia Lillis, Chosen Jacobs, Jeremy Ray Taylor
Three stars
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
F1 2020 calendar
March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.
Killing of Qassem Suleimani
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EKinetic%207%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Rick%20Parish%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Clean%20cooking%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self-funded%3C%2Fp%3E%0A
THE SPECS
Engine: 2.0-litre four-cylinder turbo
Transmission: eight-speed automatic
Power: 258hp at 5,000-6,500rpm
Torque: 400Nm from 1,550-4,400rpm
Fuel economy, combined: 6.4L/100km
Price, base: from D215,000 (Dh230,000 as tested)
On sale: now
More from Rashmee Roshan Lall
Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
Suggested picnic spots
Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes
Sukuk
An Islamic bond structured in a way to generate returns without violating Sharia strictures on prohibition of interest.
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
