Intel released its first-quarter 2022 financial report
Intel reported first-quarter 2022 earnings recently. Intel CEO Pat Gelsinger said that the revenue and profit in the first quarter of 2022 exceeded expectations and executed the IDM 2.0 strategy well, achieved key product and technology milestones, and announced plans to expand semiconductor manufacturing capabilities to meet continued market demand for semiconductors and drive.
Intel’s total revenue in the fourth quarter of 2021 was $18.4 billion, down 7% from $19.7 billion in the same period last year; net profit was $8.1 billion, an increase of 141% compared to $3.4 billion in the same period last year; however, adjusted according to US GAAP, net profit was $3.6 billion, down 35% from $5.5 billion in the same period last year. Earnings per share for the first quarter of 2022 are expected to come in at 87 cents, up from a previous estimate of 80 cents.
In the first quarter of 2022, Intel disclosed results for the first time with a new business structure. Its client computing business (CCG) revenue was $9.3 billion, down 13% year over year; Data Center and Artificial Intelligence (DCAI) revenue was $6 billion, up 22% year-over-year; Network and Edge (NEX) revenue was $2.2 billion, up 23% year over year; Mobileye’s revenue was $390 million, up 5% year over year; Accelerated Computing Systems and Graphics Group (AXG) revenue was $220 million, up 21% year over year; Intel Foundry Services (IFS) revenue was $280 million, up 175% year over year.
Intel expects second-quarter 2022 revenue of around $18 billion with a gross margin of about 48%, below consensus estimates of $18.4 billion.
