Intel (INTC) reported 1st Quarter March 2022 earnings of $0.87 per share on revenue of $18.4 billion. The consensus earnings estimate was $0.80 per share on revenue of $18.3 billion. The Earnings Whisper number was $0.84 per share. Revenue fell 6.7% compared to the same quarter a year ago.
The company said it expects second quarter earnings of approximately $0.70 per share on revenue of approximately $18.00 billion. The current consensus earnings estimate is $0.85 per share on revenue of $18.42 billion for the quarter ending June 30, 2022. The company also said it continues to expect 2022 non-GAAP earnings of approximately $3.60 per share on revenue of approximately $76.0 billion. The current consensus earnings estimate is $3.57 per share on revenue of $75.96 billion for the year ending December 31, 2022.
Intel Corporation is a semiconductor chip maker. It develops integrated digital technology products like integrated circuits, for industries such as computing and communications.
Intel Reports First-Quarter 2022 Financial Results
SANTA CLARA, Calif., April 28, 2022 -- Intel Corporation today reported first-quarter 2022 financial results.
“Q1 was a strong start to the year, exceeding expectations on both the top- and bottom-line," said Pat Gelsinger, Intel CEO. "With a $1 trillion market opportunity ahead of us, we remain laser focused on our IDM 2.0 strategy. We executed well against that strategy in Q1, delivering key product and technology milestones and announcing plans to expand our manufacturing capacity in both the US and Europe to meet the continued demand for semiconductors and drive a more balanced, resilient global supply chain.”
“Intel delivered strong first-quarter financial results, and we are reaffirming our full-year revenue guidance," said David Zinsner, Intel CFO. "We remain committed to the financial framework we laid out at Intel's Investor Meeting, including diligently managing the business to drive both growth and profitability and create shareholder value."
- First-quarter GAAP revenue of $18.4 billion, down 7% year over year (YoY), and non-GAAP revenue of $18.4 billion, down 1% YoY, exceeded January guidance. Achieved record quarterly revenue in Intel's Network and Edge Group, Mobileye and Intel Foundry Services businesses.
- First-quarter GAAP earnings-per-share (EPS) was $1.98; non-GAAP EPS was $0.87, which exceeded January guidance by $0.07. Exceeded January guidance for EPS and gross margin.
- Reaffirming full-year 2022 revenue guidance.
For the full earnings release, please go here.