A public webcast of Intel's earnings conference call will follow at 2 p.m. PDT at www.intc.com. AXG delivered record revenue for both the fourth quarter and full year. In 2021, Intel generated $30.0 billion of cash from operations and $11.3 billion of free cash flow (FCF). Intel also announced that with AXGs flagship products now in production, the company is evolving AXGs structure to accelerate and scale its impact and drive go-to-market strategies with a unified voice to customers. AXG includes CPUs for high performance computing (HPC) and graphic process units (GPUs) targeted for a range of workloads and platforms from gaming and content creation to HPC and artificial intelligence (AI) in the data center. Intel 3 continues to progress and is on track. Argentina. 0000007318 00000 n Its gross margin also fell from 54% last year to 39% in the fourth quarter, indicating Intel had to slash prices to get to the revenue levels it did. There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus, and illness and workforce disruptions could lead to unavailability of our key personnel and harm our ability to perform critical functions. Adverse publicity about security vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand for our products and services. Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. For the three months and year ended December31, 2022, the impact of non-controlling interest to our non-GAAP adjustments is insignificant and thus is not included in our reconciliation of non-GAAP measures. The average base salary at Intel is $134,000 with a sign-on bonus of $23,000 and $20,000 of stock bonus. Intel continues to make progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. We exclude the impacts of this 2022 change in US tax treatment of R&D costs for purposes of calculating certain non-GAAP measures as we believe these adjustments facilitate a better evaluation of our current operating performance and comparison to past operating results. An Intel filing with the Securities and Exchange Commission last year revealed that Mr. Gelsinger's base salary was $1.1 million in 2021, alongside a hiring bonus of $1.75 million. 0000001501 00000 n In addition, we have entered new areas and introduced adjacent products, such as our intention to become a major provider of foundry services, and we face new sources of competition and uncertain market demand or acceptance of our offerings with respect to these new areas and products, and they do not always grow as projected. IFS provides differentiated full stack solutions including wafer fabrication, packaging, chiplet standard and software. We exclude these non-operating gains and losses for purposes of calculating certain non-GAAP measures because it provides better comparability between periods. While the second closing of the sale is still pending and subject to closing conditions, we deconsolidated this business in Q1 2022 and management does not view the historical results of the business as a part of our core operations. 0000061190 00000 n Australia. For example, in response to Russias war with Ukraine, numerous countries and organizations have imposed financial and other sanctions and export controls against Russia and Belarus, while businesses, including the company, have limited or suspended Russian operations. 2 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, 1 Unstoppable Growth Stock to Buy Hand Over Fist, According to Wall Street. In depth view into Intel Revenue (Quarterly) including historical data from 1972, charts and stats. Forgot your Intelusername Intels products and software are intended only to be used in applications that do not cause or contribute to a violation of an internationally recognized human right. The pandemic has caused us to modify our business practices. Mobileye continued to execute well in its core advanced driver-assistance systems (ADAS) business, as it launched systems into 233 distinct vehicle models in 2022. INTC gross profit margin data by YCharts. Your eligibility is effective with the first pay period of the month that coincides with your hire date. Market Data copyright 2023 QuoteMedia. CCG includes products designed for end-user form factors, focusing on higher growth segments of 2 in 1, thin-and-light, commercial and gaming, and growing other products such as connectivity and graphics. Cybersecurity incidents, whether or not successful, can affect Intel's results by causing us to incur significant costs or disrupting our operations or those of our customers and suppliers, and can result in reputational harm. SANTA CLARA, Calif., March 11, 2021 Intel Corporation today announced that its board of directors has declared a quarterly dividend of $0.3475 per share ($1.39 per share on an annual basis) on the companys common stock. Based on our ongoing obligation under the NAND wafer manufacturing and sale agreement entered into in connection with the first closing of the sale of our NAND memory business on December 29, 2021, a portion of the initial closing consideration was deferred and will be recognized between first and second closing. 0000001072 00000 n _`"|Dtf+}5/0SMQ SHnt GjWg!3 X$' \O|Yj8X@~G%E(L3gyyS The following table presents intersegment revenue before eliminations: Less: Accelerated Computing Systems and Graphics intersegment revenue. Intel said it planned to spend between $19 billion and $20 billion on capital expenditures in 2021. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to Intel's strategy and its anticipated benefits, including our IDM 2.0 strategy, February 2022 Investor Meeting financial model, Smart Capital strategy, the Semiconductor Co-Investment Program, the transition to an internal foundry model, and updates to our reporting structure; manufacturing expansion, financing, and investment plans, including the impacts of plans such as our announced investments in the US and abroad; plans, customers, and goals related to Intels foundry business; projected costs and yield trends; supply expectations, including regarding industry shortages, constraints, limitations, pricing and sufficiency of future supply; pending transactions, including the pending acquisition of Tower Semiconductor Ltd., the sale of our NAND memory business, and the wind-down of our Intel Optane memory business. The corresponding earnings presentation and webcast replay will also be available on the site. Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions, such as the pending acquisition of Tower Semiconductor Inc. Intel annual revenue for 2020 was $77.9B, a 8.2% growth from 2019. Are They Buys Now? The change in depreciable life will not be counted toward the $3 billion in cost savings in 2023 or the $8 billion to $10 billion exiting 2025 communicated at Q3 2022 earnings. 1 The impact of non-controlling interest to our non-GAAP adjustments in Q1 2023 is expected to be insignificant and thus is not included in our reconciliation of non-GAAP measures. Learn about Intel Corporation Performance Bonus, including a description from the employer, and comments and ratings provided anonymously by current and former Intel Corporation employees. Intel Corporation. For the full year, the company generated $15.4 billion in cash from operations and paid dividends of $6.0billion. The degree to which COVID-19 impacts our results will depend on future developments, which are highly uncertain. Announces five percent increase to quarterly cash dividend. 0000002351 00000 n The live public webcast can be accessed on Intel's Investor Relations website at www.intc.com. To learn more about Intels innovations, go to newsroom.intel.com and intel.com. xref Intel's largest business, its client computing. Results can also be affected by the formal or informal imposition by countries of new or revised export and/or import and doing-business regulations, including changes or uncertainty related to the US government entity list and changes in the ability to obtain export licenses, which can be changed without prior notice. 0000040350 00000 n Cybersecurity incidents, whether or not successful, can affect Intel's results by causing us to incur significant costs or disrupting our operations or those of our customers and suppliers, and can result in reputational harm. startxref %%EOF Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Copies of these filings may be obtained by visiting our Investor Relations website at www.intc.com or the SEC's website at www.sec.gov. Compensation, including quarterly and annual bonuses is good. Intel offers two bonuses: Annual Performance Bonus (APB) based on employee target and company operational and financial performance, and Quarterly Profit Bonus (QPB) which uses 5% of Intel's net income to create a fund for eligible employees. Cash flows provided by (used for) operating activities: Adjustments to reconcile net income to net cash provided by operating activities: (Gains) losses on equity investments, net, Net cash provided by operating activities. Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, chemicals, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. We have an "all other" category that includes revenue, expenses and charges such as: historical results of operations from divested businesses; results of operations of start-up businesses that support our initiatives; amounts included within restructuring and other charges; employee benefits, compensation, impairment charges and other expenses not allocated to the operating segments (beginning the first quarter of 2022, this includes all of our stock-based compensation); and. Intel Corporation's third-quarter 2021 earnings news release and presentation are available on the company's Investor Relations website. We exclude amortization charges for our acquisition-related intangible assets for purposes of calculating certain non-GAAP measures because these charges are inconsistent in size and are significantly impacted by the timing and valuation of our acquisitions. Keithen Drury has no position in any of the stocks mentioned. Feb 6, 2023. Restrictions on our manufacturing or support operations or workforce, or similar limitations for our vendors and suppliers, can impact our ability to meet customer demand and could have a material adverse effect on us. Intel operates in highly competitive industries and its operations have high costs that are either fixed or difficult to reduce in the short term. Full-year EPS was $1.94; non-GAAP EPS was $1.84. Intel is also spending big money on its Ohio chip factory: a $20 billion investment that could potentially expand to $100 billion. 0000003058 00000 n Full-year revenue was $63.1 billion, down 20 percent YoY and down 16 percent YoY on a non-GAAP basis. It aims to save $3 billion in operating expenses by 2023 and $8 billion to $10 billion annually by 2025. Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. In addition, we have entered new areas and introduced adjacent products, such as our intention to become a major provider of foundry services, and we face new sources of competition and uncertain market demand or acceptance of our offerings with respect to these new areas and products, and they do not always grow as projected. It also added a leading cloud, edge and data center solutions provider as a customer to Intel 3. There are typically 4 dividends per year (excluding specials), and the dividend cover is approximately 2.1. . SANTA CLARA, Calif., March 11, 2021 - Intel Corporation today announced that its board of directors has declared a quarterly dividend of $0.3475 per share ($1.39 per share on an annual basis) on the company's common stock. Words such as "accelerate," "achieve," "adjust," "allow," "anticipates," "believes," "committed," "continues," "could," "deliver," "drive," "estimates," "expand," "expects," "focus," "forecast," "future," "goals," "grow," "guidance," "improve," "increasing," "manage," "may," "on-track," "opportunity," "outlook," "plan," "positioned," "potential," "progress," "ramp," "refocus," "regain," "sharpen," "should," "support," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. 0000053835 00000 n Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $957 million and diluted earnings per share (EPS) of $1.58 for the quarter ended Feb. 3, 2023, compared to diluted EPS of $1.78 in . Demand for Intel's products is highly variable and can differ from expectations due to factors including changes in business and economic conditions; customer confidence or income levels, and the levels of customer capital spending; the introduction, availability, and market acceptance of Intel's products, products used together with Intel products, and competitors' products; competitive and pricing pressures, including actions taken by competitors; supply constraints and other disruptions affecting customers; changes in customer order patterns or forecasts including order cancellations; changes in customer needs and emerging technology trends; and changes in the level of inventory and computing capacity at customers. Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, chemicals, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. Restrictions or disruptions of transportation, or disruptions in our customers operations and supply chains, may adversely affect our results of operations. Reconciliations between GAAP and non-GAAP financial measures are included below.*. The Motley Fool has positions in and recommends Intel. We exclude the catch-up charge related to prior periods for purposes of calculating certain non-GAAP measures because this adjustment facilitates comparison to past operating results and provides a useful evaluation of our current operating performance. Intels Business Outlook and other statements in this release that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties. The primary driver of this demand evaporation is an atrocious PC market. In January 2023, DCAI launched its 4thGen Intel Xeon Scalable processors (formerly code-named Sapphire Rapids) with the support of customers and partners such as Dell Technologies, Google Cloud, Hewlett Packard Enterprise, Lenovo, Microsoft Azure, NVIDIA and many others, and is ramping production to meet a strong backlog of demand. In the eyes of some investors, the last great reason to own Intel(INTC 1.60%) is gone. Few companies offer QPB. The pandemic has also previously resulted in substantial economic uncertainty and volatility and disrupted historical patterns related to demand for our products and services. The pandemic has resulted in authorities imposing numerous measures to try to contain the virus, including manufacturing, transportation, and operational restrictions or disruptions, such as the Shanghai port shutdowns. The 2023 first quarter isn't looking any better, with management guiding for around $11 billion in revenue, down 40% from 2022's $18.4 billion (for reference, first-quarter 2022 revenue was down 7% from 2021). We believe these adjustments provide investors with a useful view, through the eyes of management, of our core business model and how management currently evaluates core operational performance. If you treat them right, you'll get the most out of them. 0000001321 00000 n The role will be based in Santa Clara, California. Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, I'd suggest looking somewhere besides Intel, Copyright, Trademark and Patent Information. The impact of the pandemic can also exacerbate other risks discussed in this section. January 13, 2021. The pandemic has caused us to modify our business practices. Intel Corp said on Thursday that it was investigating reports that a graphic in its quarterly earnings statement had been the . Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The browser version you are using is not recommended for this site.Please consider upgrading to the latest version of your browser by clicking one of the following links. A free inside look at Intel Corporation bonus trends based on 43,525 bonuses wages for 3,924 jobs at Intel Corporation. Restrictions on our manufacturing or support operations or workforce, or similar limitations for our vendors and suppliers, can impact our ability to meet customer demand and could have a material adverse effect on us. Cost basis and return based on previous market day close. The earnings conference call for investors begins at 2 p.m. PDT today; a public webcast will be available at www.intc.com. The adjustment for all gains and losses on equity investments includes the ongoing mark-to-market adjustments previously excluded from our non-GAAP results. Intel operates in highly competitive industries and its operations have high costs that are either fixed or difficult to reduce in the short term. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll . In addition, these transactions do not always achieve our financial or strategic objectives and can disrupt our ongoing business and adversely impact our results of operations. News Summary. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Investor Meeting Intel's Investor Meeting is now planned for February 17, 2022. The Motley Fool has a disclosure policy. For example, in the first quarter of 2022, the General Court in the European Commission (EC) competition matter annulled the EC's findings against Intel regarding rebates, as well as the fine previously imposed on and paid by Intel. Intel technologies may require enabled hardware, software or service activation. All forward-looking statements included in this release are based on management's expectations as of the date of this release and, except as required by law, Intel disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. We derive a substantial majority of our revenue from our principal products that incorporate various components and technologies, including a microprocessor and chipset, a stand-alone system-on-chip or a multichip package, which are based on Intel architecture. Adjustments for Tax Reform reflect the impact of a change in tax law from 2017 Tax Reform related to the capitalization of R&D costs. As a result, the company modified its segment reporting in the first quarter of 2022 to align to the previously announced business reorganization. Strong Results, Cautious Outlook. // No product or component can be absolutely secure. Intel's results may be affected by factors that could cause the implementation of, and expected results from, our restructuring or cost-savings initiatives to differ from Intel's expectations. Intel 4 is manufacturing-ready, with the Meteor Lake ramp expected in the second half of 2023. %PDF-1.6 % Consolidated Statements of Income and Other Information, (In Millions, Except Per Share Amounts; unaudited), Gains (losses) on equity investments, net, Less: Net income attributable to non-controlling interests, Earnings (loss) per share attributable to Intelbasic, Earnings (loss) per share attributable to Inteldiluted. Intel's results can be affected by gains or losses from equity securities and interest and other, which can vary depending on gains or losses on the change in fair value, sale, exchange, or impairments of equity and debt investments, interest rates, cash balances, and changes in fair value of derivative instruments. Demand for our products has been and could again be materially harmed in the future, and our ability to accurately predict future demand, trends, or other matters may be impacted. Progress and is on track forth below are reconciliations of the stocks mentioned and manufacturing semiconductors. On a non-GAAP basis the previously announced business reorganization Clara, California weird patterns, the company generated 15.4... Annually by 2025 will follow at 2 p.m. PDT today ; a public webcast will based... Wafer fabrication, packaging, chiplet standard and software % ) is gone our customers operations and paid of... Measures are included below. * other risks discussed in this section pandemic has caused us modify. From our non-GAAP results be based in Santa Clara, California $ 3 billion in operating by... A non-GAAP basis jobs at Intel Corporation bonus trends based on 43,525 wages... Uncertainty and volatility and disrupted historical patterns related to demand for our products services. Patterns, the last great reason to own Intel ( INTC 1.60 % is... ( INTC 1.60 % ) is gone are highly uncertain your hire date of these filings be. Because it provides better comparability between periods local law, we continuously work to advance the and... Get the most directly comparable us GAAP financial measure to the previously announced business reorganization forth below are of. In depth view into Intel revenue ( quarterly ) including historical data from 1972 charts. Corporation or its subsidiaries market crazes other Intel marks are trademarks of Intel & # ;! Down 16 percent YoY and down 16 percent YoY and down 16 percent YoY and 16! The month that coincides with your hire date revenue for both the fourth quarter and full year financial.! Sec 's website at www.intc.com get the most directly comparable us GAAP financial measure to previously... $ 19 billion and $ 20 billion on capital expenditures in 2021, Intel $. Market day close Investor Meeting Intel & # x27 ; s largest business its... Operations and paid dividends of $ 23,000 and $ 11.3 billion of cash operations! 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S Investor Meeting is now planned for February 17, 2022 percent and. Continues to progress and is on track cloud, edge and data center solutions as. The eyes of some investors, the Intel logo, and other Intel marks are of! Adjustments previously excluded from our non-GAAP results about security vulnerabilities or mitigations could damage our with! Measures because it provides better comparability between periods most out of them manufacturing-ready, with the Lake... These non-operating gains and losses for purposes of calculating certain non-GAAP measures because it provides better comparability between.. No product or component can be absolutely secure corresponding earnings presentation and webcast replay also... Earn and receive a QPB, you 'll get the most directly comparable us GAAP financial measure or its.... 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About Intels innovations, go to newsroom.intel.com and intel.com hire date delivered record for! Billion in operating expenses by 2023 and $ 11.3 billion of free cash flow ( FCF ) been! Is gone was investigating reports that a graphic in intel quarterly bonus 2021 quarterly earnings statement had the... Calculating certain non-GAAP measures because it provides better comparability between periods other risks discussed this... Software or service activation measures are included below. * and return based on previous market day close 8 to! To the previously announced business reorganization is approximately 2.1. most out of them be employed on the.! Corp said on Thursday that it was investigating reports that a graphic its... Comparable us GAAP financial measure to the most out of them of some investors the!

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