Today, Intel announced it had generated its first profit in two quarters, raking in $1.5 billion in net income on $12.9 billion in revenue during the second quarter of 2023, and the company posted a more optimistic outlook than expected. Much of the success came on the back of unexpected income from Intel's PC division, sending its stock up 8% in after-hours trading. Intel beat both its own projections and market consensus handily, with its EPS of $0.13 beating consensus estimates of -$0.19.
Intel CEO Pat Gelsinger reported that the company remains on track with its audacious goal to deliver five nodes in four years, noting that the company's next-gen Meteor Lake chips, the first to use the 'Intel 4' node, are in production and on schedule for a Q3 launch. These will be the company's first high-volume consumer chips to use a chiplet-based architecture tied together with the 3D Foveros interconnect tech.
