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INTC Stock Down 3%, Intel Delivers Record Q4 and 2021 Revenue

UTC by Steve Muchoki · 2 min read
INTC Stock Down 3%, Intel Delivers Record Q4 and 2021 Revenue

During the fourth quarter, Intel recorded a revenue of $20.5 billion and a full-year GAAP revenue of $79.0 billion, up 1% YoY.

Intel Corp (NASDAQ: INTC) stock closed on January 26 trading at $51.69 after gaining 1.35% during the day. However, the Intel gains were negated during the extended trading period with approximately 3% following Q4 and 2021 revenue reports. The global giant chipmaker posted record Q4 and 2021 financial results on Wednesday. However, according to Reuters, the company’s forecast for first-quarter earnings fell short of Wall Street expectations.

Notably, the company’s forecast for first-quarter earnings per share is 80 cents, compared to wall street’s 86 cents, according to IBES data from Refinitiv. Additionally, the company announced that it expects to record a revenue of $18.3 billion during the first quarter.

During the fourth quarter, Intel recorded a revenue of $20.5 billion and a full-year GAAP revenue of $79.0 billion, up 1% YoY. Additionally, the company reported GAAP fourth-quarter earnings per share (EPS) of $1.13, which exceeded October guidance by 35 cents.

Worth noting, the company announced that its board of directors approved a cash dividend increase of 5% to $1.46 per share on an annual basis. Thereby reciprocating to $0.365 per share per quarter on its common stocks that are payable on March 1 to shareholders of record as of February 7.

Intel and Its Performance in Q4

“Q4 represented a great finish to a great year. We exceeded top-line quarterly guidance by over $1 billion and delivered the best quarterly and full-year revenue in the company’s history,” said Pat Gelsinger, Intel CEO.

The company noted that Covid recovery in 2021 and more so huge demand for its chipset products made it possible for record revenue.

“Our disciplined focus on execution across technology development, manufacturing, and our traditional and emerging businesses is reflected in our results. We remain committed to driving long-term, sustainable growth as we relentlessly execute our IDM 2.0 strategy,” he added

Intel stock has had mixed results in the past year, whereby according to market data provided by MarketWatch INTC shares are up 7.9% in the past three months but down approximately 3.55% in the past year. The company has a market valuation of approximately $207.42 billion.

Despite the huge demand for semiconductor chips, the company used approximately $2.4 billion in a share repurchase program. Notably, share buybacks are often used as control measures to avoid unnecessary stock sell-offs.

In other highlights, the company announced David Zinsner as Executive Vice President and Chief Financial Officer. Additionally, the company announced that Executive Vice President Michelle Johnston Holthaus will lead Intel’s Client Computing Group.

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Steve Muchoki

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