Intel Corporation on Thursday reported an all-time record of 77.9 billion U.S. dollars for its 2020 full-year revenue, up 8 percent year on year.
Last year marked Intel's fifth consecutive year of record revenue. In 2020, the company invested 13.6 billion U.S. dollars in research and development and 14.3 billion dollars in capital expenditures while focusing to strengthen its core CPU business, improve execution and accelerate growth, according to the report.
In 2020, Intel generated a record 35.4 billion dollars cash from operations and 21.1 billion dollars of free cash flow and returned 19.8 billion dollars to shareholders.
The company posted a year-on-year one percent drop in revenue for the fourth quarter of 2020, with overall sales of 20 billion dollars.
Its non-GAAP (generally accepted accounting principles) quarterly earnings of 1.52 dollars per share (EPS), flat compared to the same period of 2019.
Intel's fourth-quarter revenue exceeded prior expectations by 2.6 billion dollars driven by record PC-centric revenue with PC unit volumes up 33 percent year on year led by record notebook sales, the company said.
"We significantly exceeded our expectations for the quarter, capping off our fifth consecutive record year," said Intel CEO Bob Swan.
"Demand for the computing performance Intel delivers remains very strong and our focus on growth opportunities is paying off... Intel is in a strong strategic and financial position as we make this leadership transition and take Intel to the next level," he added.
Intel forecast its first-quarter 2021 revenue of approximately 18.6 billion dollars, expecting first-quarter non-GAAP EPS of 1.10 dollars. Enditem.