Intel Corporation today released fourth quarter and full year 2022 revenue and financial results. The company’s board also announced that shareholders of record by February 7, 2023 will have access to the quarterly dividend of $0.365 per common share. This will be payable on 1 March 2023. For the full year 2022, the company generated a total of $15.4 billion and paid $6 billion in dividends.
“In the fourth quarter, we took action to streamline our investments, prioritizing areas where we can deliver the greatest long-term value,” he said. David Zinsner, CFO at Intel. “These actions support our cost reduction goals of $3 billion in 2023. They also set the stage for reaching $8-10 billion by the end of 2025.”
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Intel revenue in 2022 and Q4
Fourth quarter revenue was $14.0 billion, down 32% year over year and 28% year over year on a non-GAAP basis. In addition, revenue for the full year was $63.1 billion, down 20% year over year and down 16% year over year on a non-GAAP basis. Fourth quarter earnings (loss) per share (EPS) was $(0.16). Non-GAAP EPS was $0.10 while full-year EPS was $1.94. Finally, non-GAAP EPS was $1.84.
Intel also announced a revenue forecast for Q1 2023 of $10.5 billion to $11.5 billion. The company expects first quarter EPS of $(0.80) and non-GAAP EPS of $(0.15).
“Despite the challenging market environment, we continued to make good progress on our strategic transformation in the fourth quarter,” he said Pat Gelsinger, CEO of Intel. “In 2023, we will continue to face short-term challenges as we strive to meet our long-term commitments. These include delivering leadership products anchored on open and secure platforms, with full-scale production powered by our incredible team.”
The full report is available at this link.
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