Record revenue, despite laptop struggles
Intel is still feeling the burn from the chip shortage. It’s struggling to fully capitalize on tremendous pandemic-fueled demand for new PCs, because you can’t make a laptop with Intel chips alone. And yet that didn’t stop Intel from having its best financial year ever — in, it’s reporting its highest quarterly and highest yearly revenue ever, at $19.5 billion and $74.7 billion, respectively — and four other revenue records as well.
when the company announced its Client Computing Group’s revenues had actually shrunk by 2 percent. Today, Intel’s Q4 earnings show things haven’t improved there: CCG is down 7 percent year over year, again due to laptops. Intel’s presentation shows laptop revenue is down 16 percent year over year because it can’t ship nearly as many of them as it likes, even though it’s likely making more money from each one: the average selling price of those laptop components went up 14 percent.
But desktops are up, and the company’s other divisions more than made up for the plunge , with Intel’s data center group up 20 percent year over year to $7.3 billion. Smaller businesses like Intel’s Internet of Things Group and Mobileye also saw more demand, up 36 percent and 7 percent in Q4 2021 compared to Q4 2020. They grew 33 percent and 43 percent this year, respectively.
In October, Gelsinger suggested that the chip shortage wouldn’t end until at least 2023, which somewhat sucks for Intel when you consider that the PC’s experiencing a bit of a renaissance right now.
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