Tops Forecasts - Guides Up|
January 24, 2020
Intel reported fourth-quarter and full-year 2019 financial results. The firm had Q4, not counting certain items, of $1.52 per share with only $1.25 expected. Intel reported revenue of $20.21 billion which was better than the $19.23 billion consensus estimate.
The chip maker guided first-quarter earnings of $1.30 per share and revenue of $19 billion, which easily topped estimates of $1.04 in earnings and $17.19 billion in revenue.
“In 2019, we gained share in an expanded addressable market that demands more performance to process, move and store data,” said Bob Swan, Intel CEO. “One year into our long-term financial plan, we have outperformed our revenue and EPS expectations. Looking ahead, we are investing to win the technology inflections of the future, play a bigger role in the success of our customers and increase shareholder returns."
The company also announced that its board of directors approved a five percent cash dividend increase to $1.32 per share on an annual basis. The board declared a quarterly dividend of $0.33 per share on the company’s common stock, which will be payable on March 1 to shareholders of record on February 7.
In the fourth quarter, the company generated approximately $9.9 billion in cash from operations, paid dividends of $1.4 billion and used $3.5 billion to repurchase 63 million shares of stock.
For the full year, the company generated a record $33.1 billion cash from operations, paid dividends of $5.6 billion and used $13.6 billion to repurchase 272 million shares of stock.
Fourth-quarter revenue set an all-time
quarterly record of $20.2 billion, which was
$1 billion higher than October guidance led
by record data-centric revenue, up 15
percent YoY. PC-centric revenue was up 2