Intel Tops Forecasts
January 22, 2021
reported fourth-quarter and full-year 2020 financial results.
The firm had EPS of $1.52
adjusted with only $1.10 expected. Revenue came in at $20 billion
with $17.49 billion expected. The chip maker forecast Q1 2020
revenue of $18.6 billion and EPS of $1.03.
Fourth-quarter revenue exceeded prior expectations by $2.6 billion driven by record PC-centric revenue with PC unit volumes up 33 percent YoY led by record notebook sales. The company also achieved better-than-expected data-centric results, including record Mobileye revenue.
In the fourth quarter, the company generated $9.9 billion in cash from operations and paid dividends of $1.4 billion.
For the full year, the company generated a record $35.4 billion cash from operations, paid dividends of $5.6 billion, and used $14.2 billion to repurchase 274.6 million shares of stock.
The company also announced that its board of directors approved a cash dividend increase of five percent to $1.39 per share on an annual basis. The board declared a quarterly dividend of $0.3475 per share on the company’s common stock, which will be payable on March 1 to shareholders of record on February 7.