A little more on Intel: Server profits growing, mobile losses high


Intel's (INTC) Data Center Group (server CPUs) had a Q3 op. profit of $1.39B, +16% Y/Y and outpacing division rev. growth of 12%. But the Other Intel Architecture Group (inc. Atom, the Infineon mobile unit, and the set-top/gateway chip unit) had a $606M op. loss, down slightly Q/Q but up sharply from $235M a year earlier.

The mainstay PC Client Group had a $3.26B op. profit, -3% Y/Y. Software/services had a $5M op. loss vs. a $4M op. profit a year earlier.

Intel has slightly lowered its 2013 R&D/MG&A spending guidance to $4.7B from $4.8B. R&D spend +5% Y/Y in Q3 to $2.74B, MG&A -1% to $1.97B. Headcount rose by 1K Q/Q to 107K.

Cash/investments stood at $19.1B at the end of Q3, and debt at $13.5B.

Intel states on the Q3 CC the enterprise PC market strengthened during the quarter (IDC/Gartner's data seems to bear this out), and that the market appears to have bottomed out. Customer inventories rose, but remain below historical levels..

Intel now plans to start manufacturing 14nm (Broadwell) CPUs in Q1, a quarter later than originally planned. Broadwell's commercial launch is set for 2H14.

INTC now -2.1% AH.

Q3 results, guidance/details

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