Intel Corporation (NASDAQ: INTC) reported its financial results for the quarter ended March 31, 2020 today.
Intel posted a 42% jump in earnings for the first quarter of 2020 helped by higher revenue. The revenue in the DCG segment rose by 43% aided by strong demand from cloud service provider customers. The PC-centric business increased by 14% on improved CPU supply and demand strength as consumers and businesses are relying on PCs for working and learning at home.
Looking ahead into the second quarter of 2020, Intel expects revenue of about $18.5 billion, earnings of $1.04 per share, and adjusted earnings of $1.10 per share. The spread of the COVID-19 pandemic has caused Intel to modify its business practices and the degree of the impact on its results will depend on future developments.