Displaying items by tag: Intel CEO
Intel Corporation today reported fourth-quarter and full-year 2019 financial results. Intel exceeded expectations with a record revenue of $20.2 billion, up 8 percent year-over-year (YoY). Full-year revenue set an all-time record of $72.0 billion, up 2 percent YoY on data-centric growth.
Intel also delivered outstanding fourth-quarter earnings per share (EPS) of $1.58.A record $33.1 billion cash was generated from operations and $16.9 billion of free cash flow, and returned approximately $19.2 billion to shareholders.
The company’s 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 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."
Revenues of the largest division of Intel, the Client Computing Group, producing chips for PCs, laptops and tablets, grew by 2% (compared with the fourth quarter of 2018) to $ 10.01 billion, exceeding analytical forecasts of $ 9.74 billion.
Most notably, revenue from the Data Center Group segment, which manufactures chips for computer servers grew 19% to $ 7.21 billion, which also exceeded analysts’ expectations of $ 6.40 billion. The non-volatile memory division selling storage and memory products, received income of $ 1.22 billion, which is lower than the forecast of $ 1.28 billion.
The company expects a strong first quarter this year. Intel’s forecast for the whole of 2020 is also higher than analysts’ expectations, with 2020 revenue of approximately $73.5 billion and first-quarter revenue of approximately $19.0 billion.