Intel Corp (NASDAQ:INTC) reported fourth-quarter financial results after the market close on Thursday. Here’s a look at the key details from the chipmaker’s report.
- Intel stock is trading near recent highs.
Intel Beats Q4 Estimates
Intel reported fourth-quarter revenue of $13.67 billion, beating analyst estimates of $13.37 billion. The company reported fourth-quarter adjusted earnings of 15 cents per share, beating estimates of eight cents per share, according to Benzinga Pro.
Total revenue in the fourth quarter was down 4% on a year-over-year basis. Here’s a breakdown of revenue by category:
- Client Computing Group: $8.2 billion, down 7% year-over-year
- Data Center and AI: $4.7 billion, up 9% year-over-year
- Intel Foundry: $4.5 billion, up 4% year-over-year
- Total Intel Products: $12.9 billion, down 1% year-over-year
- All Other: $600 million, down 48% year-over-year
Intel generated $4.3 billion in cash from operations during the quarter and ended the period with approximately $14.27 billion in cash and cash equivalents.
“Our conviction in the essential role of CPUs in the AI era continues to grow. We delivered a solid finish to the year and made progress on our journey to build a new Intel,” said Lip-Bu Tan, CEO of Intel.
“The introduction of our first products on Intel 18A – the most advanced process technology developed and manufactured in the United States – marks an important milestone, and we’re working aggressively to grow supply to meet strong customer demand.”
What’s Next For Intel
Intel expects first-quarter revenue to be in the range of $11.7 billion to $12.7 billion versus estimates of $12.49 billion. The company anticipates breakeven first-quarter adjusted earnings versus estimates of five cents per share.
“Our priorities are clear: sharpen execution, reinvigorate engineering excellence, and fully capitalize on the vast opportunity AI presents across all of our businesses,” Tan said.
Intel’s management team will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
INTC Shares Slide After The Bell
INTC Price Action:Intel shares were down 5.74% in after-hours Thursday, trading at $51.15 at the time of publication, according to Benzinga Pro.