Intel Tops Forecasts

January 22, 2021

Intel 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.

“We significantly exceeded our expectations for the quarter, capping off our fifth consecutive record year,” said Bob Swan, Intel CEO. “Demand for the computing performance Intel delivers remains very strong and our focus on growth opportunities is paying off. It has been an honor to lead this wonderful company, and I am proud of what we have achieved as a team. Intel is in a strong strategic and financial position as we make this leadership transition and take Intel to the next level.”

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.

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