Intel (INTC) Q2 2020 Earnings Call Transcript

Operator: 
Ladies and gentlemen, thank you for standing by and welcome to the second quarter 2020 Intel Corporation earnings feature update to windows 10 version 2004 conference call. At this time, all participants lines are in listen only mode. After the speaker’s presentation, there will be a question and answer session. To ask a question during the session, you How To Get Help in Windows 10 Keyboard  will need to press star one windows 10 version 2004 problems on your telephone. Please be advised that today’s conference is being recorded. If you require any further Get Help in Windows 10 assistance, please press star zero. I would now like to hand the conference over to your host today, Mr. Trey Campbell, director of investor relations. Thank you. Please go ahead, sir.

Trey Campbell:
Thank you operator and welcome everyone to Intel’s second quarter earnings conference call. By now, you should have received a copy of our earnings release in the earnings presentation. If you’ve not received both documents, they’re available on our investor website, intc.com. The earnings presentation is also available in the webcast window for those joining us online. I’m joined today by our CEO, Bob Swan, and our CFO, George Davis. In a moment we’ll hear brief remarks from both of them followed by Q&A

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Trey Campbell: 
Before we begin, let me remind everyone that today’s discussion contains forward looking statements based on the environment as we currently Get Help in Windows 10 see it. And as such does, include risks and feature update to windows 10 version 2004 uncertainties. Please refer to our press How To Get Help in Windows 10 Keyboard  release windows 10 version 2004 problems for more information on the specific risk factors that could cause actual results to differ materially. A brief reminder that this quarter we have provided both gap and non-gap financial measures.

Trey Campbell: 
Today, we will be speaking to the non-gap financial measures when describing our consolidated results. The earnings presentation and earnings release available on intc.com include the full gap and non-gap reconciliations. With that, let me hand it over to Bob.

Bob Swan: 
Thanks, Trey. And thank you all for joining our call. It is a very challenging environment. Cloud and network infrastructure and PC capabilities have been vital in allowing businesses and people to continue to work, learn, stay connected, and provide critical goods and services. Those trends contributed to a very strong quarter in which we generated $19.7 billion in revenue and feature update to windows 10 version 2004 delivered $1.23 in earnings per share. We exceeded our guidance by $1.2 billion on the top line and 13 cents on the bottom line. Our data centric businesses grew 34% and drove approximately 52% of the company’s revenue. And our PC centric businesses grew 7%. I continue to be amazed by our employees and supply chain partners who have diligently worked to keep our business operating at a high level during this unprecedented Get Help in Windows 10 challenge.

Bob Swan: 
COVID-19 has driven redesign workflows and added additional environmental stress that I know has strained employees and ecosystem partners as they try to maintain productivity in this new world. I want to thank our employees How To Get Help in Windows 10 Keyboard  and partners for their incredible  windows 10 version 2004 problems contributions. Our primary focus  feature update to windows 10 version 2004 continues to be ensuring the safety and wellbeing of our global workforce, delivering for our customers, and helping the communities in which we operate.

Bob Swan: 
At each earnings call, I give updates about our progress against three key priorities, accelerating the growth of the company, improving our execution, and continuing to thoughtfully deploy your capital. Let me give you a few thoughts on each. We’re transforming the company to accelerate growth. That means not just playing defense, but position our business to grow share in the largest market opportunity in our history. We’ve built scale businesses index to key technology inflections, such as cloud, AI, 5G, and the intelligent and autonomous edge.

Bob Swan:
We see a world where everything increasingly looks like a computer, including our homes, our cars, our cities, our hospitals, our feature update to windows 10 version 2004 factories, and now even our schools. In this new world, our opportunity set becomes more than just the CPU. It’s more and more Intel silicon inside more and more computers. How To Get Help in Windows 10 Keyboard  So we can have a larger impact on our windows 10 version 2004 problems customers’ Get Help in Windows 10 success. That diversity is one critical factor in driving today’s results. I’ll highlight a few examples from the last 90 days.

Bob Swan: 
AI use cases are becoming pervasive and we are embedding AI capability into all our products. Our Xeon platform is foundational for data center AI with value scalability, built in AI acceleration, and inference leadership. This feature update to windows 10 version 2004 quarter, we launched our third generation Intel Xeon scalable processor, Cooper Lake, which is the first mainstream server CPU BFloat16 support, which  How To Get Help in Windows 10 Keyboard  increases AI throughput by reducing the amount of data required for the same accuracy. Developers can Get Help in Windows 10 use and test latest Intel optimized versions of TensorFlow and PyTorch windows 10 version 2004 problems to train their models using BFloat16. And the Intel distribution of open Vino to deploy optimized inference from cloud to edge.