Intel, the world's largest chip maker by revenue, reported a 22 per cent drop in fourth-quarter net profit due to "ecosystem constraints" as the company downgraded its sales guidance for the first quarter of the 2022 financial year.
Net profit for the last quarter ending on December 25 fell to $4.6 billion, from the same period a year earlier.
Revenue increased 3 per cent on an annualised basis to $20.5bn, the company said in a statement. It was the best quarterly revenue in the history of the California-based company.
Our disciplined focus on execution across technology development, manufacturing, and our traditional and emerging businesses is reflected in our results
Pat Gelsinger,
Intel chief executive
The company’s full 2021 financial year’s net profit dropped about 5 per cent to $19.9bn, while sales increased almost 1 per cent to $79bn.
The company's stock plunged more than 2.5 per cent in extended trading to $50.3 a share on Wednesday.
The fourth quarter represented “a great finish to a great year”, the company’s chief executive Pat Gelsinger said.
“We exceeded top-line quarterly guidance by over $1bn and delivered the best quarterly and full-year revenue in the company's history,” Mr Gelsinger added.
The company also approved a cash dividend increase of 5 per cent to $1.46 per share on an annual basis.
In the fourth quarter, Intel spent more than $4bn on research and development activities, about 11 per cent more than the R&D spend of the same period in 2020.
Its operating income dropped about 15 per cent yearly to almost $5bn in the quarter.
In the October-December period, Intel generated $5.8bn in cash from operations and paid dividends of $1.4bn.
Intel said it expects the current quarter (Q1, 2022) sales to reach about $18.3bn, down nearly 1 per cent on a yearly basis.
Since Intel’s founding in 1968, it has been an integrated device manufacturer (IDM) — a company that both designs and builds its own semiconductor chips.
In March, Mr Gelsinger announced IDM2.0, a new model that includes significant manufacturing expansions.
“Our disciplined focus on execution across technology development, manufacturing, and our traditional and emerging businesses is reflected in our results. We remain committed to driving long-term, sustainable growth as we relentlessly execute our IDM 2.0 strategy,” Mr Gelsinger said.
The company, which employs 121,100 employees globally, had more than $2.1bn in cash and cash equivalents as of December 25.
Its client computing group (CCG), which produces chips for personal computers, added $10.1bn in overall sales in the fourth quarter — almost 7 per cent less than the same period last year.
The company earned $7.3bn from making chips for data centres, nearly 20 per cent up on a year-on-year basis.
Its Internet of Things group, which manufactures low-power embeddable chips, earned more than $1.1bn, almost 36 per cent more than the prior year period.
Sales of Intel’s autonomous driving subsidiary Mobileye were up about 7 per cent to $356 million in the three-month period.
Last week, Intel announced plans for an initial investment of more than $20bn in the construction of two chip factories in Ohio. The investment will help boost the production of chips to meet the surging demand for advanced semiconductors in the US, the company said.
Company%20profile
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The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
UAE central contracts
Full time contracts
Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid
Part time contracts
Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma
Major matches on Manic Monday
Andy Murray (GBR) v Benoit Paire (FRA)
Grigor Dimitrov (BGR) v Roger Federer (SUI)
Rafael Nadal (ESP) v Gilles Muller (LUX)
Adrian Mannarino (FRA) Novak Djokovic (SRB)
MATCH INFO
Real Madrid 2 (Benzema 13', Kroos 28')
Barcelona 1 (Mingueza 60')
Red card: Casemiro (Real Madrid)
FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EZack%20Snyder%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ESofia%20Boutella%2C%20Djimon%20Hounsou%2C%20Ed%20Skrein%2C%20Michiel%20Huisman%2C%20Charlie%20Hunnam%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3C%2Fp%3E%0A
Uefa Nations League
League A:
Germany, Portugal, Belgium, Spain, France, England, Switzerland, Italy, Poland, Iceland, Croatia, Netherlands
League B:
Austria, Wales, Russia, Slovakia, Sweden, Ukraine, Republic of Ireland, Bosnia-Herzegovina, Northern Ireland, Denmark, Czech Republic, Turkey
League C:
Hungary, Romania, Scotland, Slovenia, Greece, Serbia, Albania, Norway, Montenegro, Israel, Bulgaria, Finland, Cyprus, Estonia, Lithuania
League D:
Azerbaijan, Macedonia, Belarus, Georgia, Armenia, Latvia, Faroe Islands, Luxembourg, Kazakhstan, Moldova, Liechtenstein, Malta, Andorra, Kosovo, San Marino, Gibraltar
Company%20profile
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More from Rashmee Roshan Lall
MATCH INFO
Asian Champions League, last 16, first leg:
Al Ain 2 Al Duhail 4
Second leg:
Tuesday, Abdullah bin Khalifa Stadium, Doha. Kick off 7.30pm
Killing of Qassem Suleimani
Drishyam 2
Directed by: Jeethu Joseph
Starring: Mohanlal, Meena, Ansiba, Murali Gopy
Rating: 4 stars
The five pillars of Islam
The%C2%A0specs%20
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RESULTS
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Company%20profile
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
MATCH INFO
Everton 2 (Tosun 9', Doucoure 93')
Rotherham United 1 (Olosunde 56')
Man of the Match Olosunde (Rotherham)
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
