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Mega-financial-o-gasm Quarterly earnings season is again upon us this week, and here is a lightning run through the financial results from three of the biggest names in technology: Intel, Google, and Amazon.
Chipzilla is about to get a bit smaller. On Thursday, Intel confirmed the tech world's worst-kept secret that it will offload its 5G smartphone modem unit to Apple for $1bn. In addition to the cellular chip blueprints, Apple will take on 2,200 Intel workers and will get ownership of all of Chipzilla's smartphone modem patents, boosting Apple's portfolio in that space to more than 17,000 patents.
Announcement - Part - Otherwise - Q2 - Earnings
The announcement came as part of an otherwise lackluster Q2 earnings report [PDF]:
Revenues of $16.5bn are 3 per cent down from the year-ago quarter.
Income - Cent - Drop - Year
Net income is $4.2bn, a whopping 17 per cent drop from last year.
Non-GAAP EPS of $0.92 saw a 2 per cent increase from the year-ago quarter and was ahead of analyst estimates.
Intel - Modem - Unit - Backend - Hardware
Intel said that, now that it has dumped its modem unit, it will focus on backend hardware for the mobile networks themselves.
"We have long respected Apple and we’re confident they provide the right environment for this talented team and these important assets moving forward," Chipzilla CEO Bob Swan said of the deal. "We’re looking forward to putting our full effort into 5G where it most closely aligns with the needs of our global customer base, including network operators, telecommunications equipment manufacturers and cloud service providers."
Apple - Couple - Intel - Engineers - Roof
Apple, meanwhile, gets a couple thousand Intel engineers under its roof and, more importantly, will become much less dependent on Qualcomm, with who it is not exactly on the best of terms – if it can get Intel's kit to work well enough.
Speaking of Intel, it was accused this month of racial discrimination: a Korean-American techie is suing the x86 giant in California, alleging its managers...
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