Intel Chip Sales Rise, Profit Forecast Falls Short

Intel Chip Sales Rise, Profit Forecast Falls Short

Foto: Depositphotos

Intel reported financial results for the first quarter of 2021. Its PC chip business had sales of $10.6 billion, ahead of analyst expectations of $10.17 billion. Adjusted sales and earnings for the first quarter ended March 27 were $18.6 billion and $1.39 per share, higher than analyst estimates of $17.89 billion and $1.15 per share.

“Intel delivered strong first-quarter results driven by exceptional demand for our leadership products and outstanding execution by our team. The response to our new IDM 2.0 strategy has been extraordinary, our product roadmap is gaining momentum, and we’re rapidly progressing our plans with re-invigorated focus on innovation and execution,” said Pat Gelsinger, Intel CEO. “This is a pivotal year for Intel. We are setting our strategic foundation and investing to accelerate our trajectory and capitalize on the explosive growth in semiconductors that power our increasingly digital world.”

Second-quarter profit forecast fell short of analyst expectations as the company spends heavily to get its manufacturing operations back on track and catch up to rivals with faster chips. Intel expects 2021 adjusted revenue and profits of $72.5 billion and $4.60 per share, above analyst estimates of $72.32 billion and $4.58 per share. The chipmaker forecast second-quarter adjusted revenue and profits of $17.8 billion and $1.05 per share, with sales above analyst estimates of $17.59 billion but profits below estimates $1.09 per share.

More from category

Telefonica Posts Record Profit on Tower Sale

Telefonica Posts Record Profit on Tower Sale

31 Jul 2021 comment

Spanish based operator Telefonica raised its full year outlook after posting an all-time record net income.

Strong First Half for Nokia, 2021 Outlook Revised Upwards

Strong First Half for Nokia, 2021 Outlook Revised Upwards

31 Jul 2021 comment

Nokia's net sales grew 9 percent on constant currency in the second quarter of 2021.

Samsung's Revenue Went Up 20 Percent in the Last Quarter

Samsung's Revenue Went Up 20 Percent in the Last Quarter

30 Jul 2021 comment

During the second quarter of 2021, Samsung made a net profit of KRW9.6 trillion ($8.4 billion), up from KRW5.6 trillion in the same period last year.