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1q21 revenue was $19.7 billion, down 1% year on year, still exceeding expectations From Intel

The following is the 1q21 revenue was $19.7 billion, down 1% year on year, still exceeding expectations From Intel recommended by recordtrend.com. And this article belongs to the classification: 5g industry, artificial intelligence, Enterprise financial report, Investment & Economy.

On April 23, 2021, Intel (NASDAQ: INTC) released its financial report for the first quarter of 2021 after the US stock market closed on Thursday (early morning of Beijing time on Friday).

According to the financial report, Intel’s revenue in the first quarter was 19.7 billion US dollars, down 1% from 19.8 billion US dollars in the same period last year, but still exceeded expectations; Net profit was US $3.4 billion, down 41% from US $5.7 billion in the same period last year; Diluted earnings per share was $0.82, down 37% from $1.31 in the same period last year. Excluding some one-time items (not in accordance with US GAAP), Intel’s adjusted net profit in the first quarter was US $5.7 billion, down 6% from US $6.1 billion in the same period of last year; The adjusted earnings per share was $1.39, down 1% from $1.41 in the same period last year, which also exceeded expectations.

Intel shares fell 2.47% to $61.03 per share after the earnings report.

“Intel achieved strong results in the first quarter, thanks to the strong market demand for our leading products and the excellent execution of our team. Our new IDM 2.0 strategy has received extraordinary repercussions, and our product roadmap is ready. We are rapidly moving forward with our plans to refocus on innovation and execution. ” Pat Gelsinger, Intel’s chief executive, said“ This is a critical year for Intel. We are building our own strategic base and investing to speed up our trajectory and leverage the explosive growth of semiconductors to power an increasingly digital world. “

But it will take years to complete. Kissinger’s plan to turn Intel into a chip manufacturing company and increase its manufacturing business in the U.S. domestic market will not be cheap. In the first quarter, despite the surge in global demand for microchips, Intel’s sales and quarterly earnings were basically flat compared with the same period last year.

Intel has suffered a setback in making its most advanced 7Nm chip. At the same time, Intel also faces increasingly fierce competition from companies such as NVIDIA (NASDAQ: AMD) and AMD (NASDAQ: AMD). NVIDIA announced the launch of its own data center chip this year, while amd boasted that it has surpassed Intel in some key computing performance indicators.

Performance summary:

Intel’s revenue in the first quarter was $19.7 billion, down 1% from $19.8 billion in the same period last year, but it still exceeded Wall Street analysts’ expectations. Analysts had expected Intel’s revenue to reach $17.9 billion in the first quarter on average, according to financial market data and infrastructure provider refinitiv.

Intel’s first quarter net profit was $3.4 billion, down 41% from $5.7 billion in the same period last year; Diluted earnings per share was $0.82, down 37% from $1.31 in the same period last year.

Excluding some one-time items (not in accordance with US GAAP), Intel’s adjusted net profit in the first quarter was US $5.7 billion, down 6% from US $6.1 billion in the same period of last year; Adjusted earnings per share was $1.39, down 1% from $1.41 in the same period last year, which also exceeded analysts’ expectations. Analysts had expected Intel’s adjusted diluted earnings per share to reach $1.15 in the first quarter, according to refinitiv.

Performance of each department:

– Intel Customer computing group reported net revenue of $10.605 billion in the first quarter, compared with $9.775 billion in the same period last year.

Intel data center group’s revenue in the first quarter was $5.564 billion, compared with $6.993 billion in the same period last year.

Intel Internet of things group’s revenue in the first quarter was $1.291 billion, compared with $1.137 billion in the same period last year.

– Intel’s nonvolatile storage solutions group reported revenue of $1107 million in the first quarter, compared with $1338 million in the same period last year.

– Intel’s programmable solutions group reported revenue of $486 million in the first quarter, compared with $519 million in the same period last year.

– Intel’s revenue from all other businesses in the first quarter was $620 million, compared with $66 million in the same period last year.

Other financial information:

Intel’s first quarter operating profit was $3.694 billion, compared with $7.038 billion in the same period last year. Not in accordance with U.S. GAAP, Intel’s adjusted operating profit in the first quarter was $6.096 billion, compared with $7.349 billion in the same period last year. Intel’s operating profit margin in the first quarter was 18.8%, down 16.7 percentage points from 35.5% in the same period last year. Not in accordance with US GAAP, Intel’s adjusted operating profit margin in the first quarter was 32.8%, down 6.7 percentage points from 39.5% in the same period last year.

Intel’s gross profit margin in the first quarter was 55.2%, down 5.4 percentage points from 60.6% in the same period last year. Not in accordance with US GAAP, Intel’s adjusted gross profit rate in the first quarter was 58.4%, down 6.1 percentage points from 64.5% in the same period last year.

Intel’s operating expenses in the first quarter were $5 billion, up 3% from $4.8 billion in the same period last year. Not in accordance with U.S. GAAP, Intel’s adjusted operating expenses in the first quarter were $4.8 billion, up 2% from $4.6 billion in the same period last year.

Intel’s tax rate in the first quarter was 14.0%, down 0.5 percentage points from 14.4% in the same period last year. Not in accordance with U.S. GAAP, Intel’s adjusted tax rate was 13.7% in the first quarter, unchanged from 113.7% in the same period last year.

Performance Outlook:

Intel’s outlook for the second quarter of 2021 is as follows:

Revenue is expected to reach about 18.9 billion US dollars, and revenue not in accordance with US GAAP is expected to reach about 17.8 billion US dollars, exceeding analysts’ expectations. Analysts on average expect Intel’s revenue to reach $17.55 billion in the second quarter, according to refinitiv.

Gross profit margin is expected to reach about 55%, and operating profit margin not calculated in accordance with US GAAP is expected to reach about 57%.

Earnings per share is expected to reach about $1.05, and adjusted earnings per share not calculated in accordance with U.S. GAAP is also expected to reach about $1.05, which is less than analysts’ expectation. Analysts on average expect Intel’s adjusted earnings per share to reach $1.09 in the second quarter, according to refinitiv.

Intel: net profit of 4q20 is US $5.8 billion, a year-on-year decrease of 15% IC insights: Samsung will surpass Intel to become the largest chipmaker in 2017 Gartner: global semiconductor market in 2017 reached US $420.4 billion TSMC: revenue of 4q20 reached US $12.68 billion, a year-on-year increase of 22% TSMC: revenue of 1q21 financial report reached US $12.919 billion, a year-on-year increase of 16.7% IC insights: half lead in 2017 ASML: 2q20 net sales 3.3 billion euro sales growth expectations remain unchanged SMIC: 3q20 revenue 1.08 billion US dollars net profit 256 million US dollars SMIC decline expanded to 8% SMIC said depreciation increase will bring pressure on net profit SMIC: 2q20 revenue 938.5 million US dollars net profit 138 million US dollars SMIC: 2q20 conference record Annual revenue target is still growing by 15-20%, gross profit rate is higher than last year’s Boston Consulting: government incentives and competitiveness of us semiconductor manufacturing industry AMD: 4q19 net profit is 170 million US dollars, a substantial increase year on year

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