Intel (INTC) Tops Q4 EPS by 42c, Revenue Beats, Offers Q1 Guidance

January 21, 2021 3:49 PM EST

(Updated - January 21, 2021 3:59 PM EST)

Intel (NASDAQ: INTC) reported Q4 EPS of $1.52, $0.42 better than the analyst estimate of $1.10. Revenue for the quarter came in at $20 billion versus the consensus estimate of $17.5 billion.

  • Fourth-quarter revenue was $20.0 billion, exceeding October guidance by $2.6 billion and down 1 percent year-over-year (YoY). Full-year revenue set an all-time Intel record of $77.9 billion, up 8 percent YoY.
  • Delivered outstanding fourth-quarter earnings per share (EPS) of $1.42 ($1.52 on a non-GAAP basis, exceeding October guidance by 42 cents).
  • In 2020, Intel generated a record $35.4 billion cash from operations and $21.1 billion of free cash flow (FCF) and returned $19.8 billion to shareholders.
  • Forecasting first-quarter 2021 revenue of approximately $18.6 billion (non-GAAP revenue of $17.5 billion); expecting first-quarter EPS of $1.03 (non-GAAP EPS of $1.10).1

Intel sees Q1 EPS of $$1.10 vs $0.93 consensus on revenue of $17.5 billion vs consensus of $16.06 billion.

Business Outlook

Intel's guidance for the first quarter includes both GAAP and non-GAAP estimates. Our Non-GAAP measures exclude the NAND memory business, which is subject to a previously-announced pending sale. Reconciliations between GAAP and non-GAAP financial measures are included below.

Q1 2021






$18.6 billion

$17.5 billion

Operating margin



Tax rate



Earnings per share



For earnings history and earnings-related data on Intel (INTC) click here.

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