Intel has reported record revenues for 2020 at US$77.9 billion, up 8% on year, with its board of directors approved a cash dividend increase of 5% to US$1.39 per share on an annual basis.
The board declared a quarterly dividend of US$0.3475 per share on the company's common stock, which will be payable on March 1 to shareholders of record on February 7.
In the fourth quarter, the company generated US$9.9 billion in cash from operations and paid dividends of US$1.4 billion.
Fourth-quarter revenues exceeded prior expectations by US$2.6 billion driven by record PC-centric revenues with PC unit volumes up 33% on year led by record notebook sales, the vendor said. The company also achieved better-than-expected data-centric results, including record Mobileye revenues.
2020 marked Intel's fifth consecutive year of record revenues. The Client Computing Group, Data Center Group, Non-volatile Memory Solutions Group, and Mobileye all achieved record full-year revenues. In 2020, the company invested US$13.6 billion in research and development and US$14.3 billion in capital expenditures while focusing on strengthening its core CPU business, improving execution and accelerating growth.
Intel financial highlights, 4Q20 (US$b) | ||||||
GAAP | Non-GAAP | |||||
4Q20 | 4Q19 | Y/Y | 4Q20 | 4Q19 | Y/Y | |
Revenues | 20 | 20.2 | (1%) | 20.0 | 20.2 | (1%) |
Gross margin | 56.8% | 58.8% | (2.0pp) | 58.4% | 60.1% | (1.7pp) |
R&D and MG&A | 5.4 | 5.0 | 9% | 5.4 | 4.9 | 9% |
Operating margin | 29.5% | 33.6% | (4.2pp) | 31.5% | 35.7% | (4.2pp) |
Tax rate | 21.8% | 14.4% | 7.4pp | 21.5% | 13.6% | 7.9pp |
Net income | 5.9 | 6.9 | (15%) | 6.2 | 6.7 | (6%) |
EPS (US$) | 1.42 | 1.58 | (10%) | 1.52 | 1.52 | flat |
Source: Company, compiled by Digitimes, January 2021
Intel financial highlights, 2020 (US$b) | ||||||
GAAP | Non-GAAP | |||||
2020 | 2019 | Y/Y | 2020 | 2019 | Y/Y | |
Revenues | 77.9 | 72 | 8% | 77.9 | 72.0 | 8% |
Gross margin | 56% | 58.6% | (2.5pp) | 57.6% | 60.1% | (2.6pp) |
R&D and MG&A | 19.7 | 19.7 | flat | 19.5 | 19.5 | flat |
Operating margin | 30.4% | 30.6% | (0.2pp) | 32.5% | 33% | (0.5pp) |
Tax rate | 16.7% | 12.5% | 4.2pp | 16.4% | 12.2% | 4.2pp |
Net income | 20.9 | 21 | (1%) | 22.4 | 21.8 | 3% |
EPS (US$) | 4.94 | 4.71 | 5% | 5.30 | 4.87 | 9% |
Cash from operations | 35.4 | 33.1 | 7% | 35.4 | 33.1 | 7% |
Free cash flow | N/A | N/A | N/A | 21.1 | 16.9 | 25% |
Source: Company, compiled by Digitimes, January 2021
