Intel Corporation reported record EPS and revenue on both a GAAP and non-GAAP basis. On a non-GAAP basis, revenue was $12.9 billion, operating income was $4.3 billion, net income was $3.3 billion, and EPS was 59 cents. On a GAAP basis, the company reported first-quarter revenue of $12.8 billion, operating income of $4.2 billion, net income of $3.2 billion, and EPS of 56 cents.
The company generated approximately $4.0 billion in cash from operations, paid cash dividends of $994 million, and used $4.0 billion to repurchase 189 million shares of common stock. "The first-quarter revenue was an all-time record for Intel fueled by double digit annual revenue growth in every major product segment and across all geographies," said Paul Otellini, Intel president and CEO. "These outstanding results, combined with our guidance for the second quarter, position us to achieve greater than 20 percent annual revenue growth.
Q1 2011 Key Financial Information (GAAP)
- PC Client Group revenue up 17 percent, Data Center Group revenue up 32 percent, other Intel architecture group revenue up 70 percent, and Intel Atom microprocessor and chipset revenue of $370 million up 4 percent, all year-over-year.
- The average selling price (ASP) for microprocessors was up sequentially. Gross margin was 61 percent.
- R&D plus MG&A spending of $3.7 billion, slightly higher than the company's expectation.
- The net gain of $213 million from equity investments and interest and other, consistent with the company's expectation.
- The effective tax rate was 28 percent, in-line with the company's outlook of 29 percent.
- The company used $4.0 billion to repurchase 189 million shares of common stock.
- During the quarter, the company closed the acquisitions of Infineon Wireless Solutions and McAfee, Inc. The combination of both acquisitions contributed revenue of $496 million.
- The first quarter of 2011 had 14 weeks of business versus the typical 13 weeks, as the company realigned its fiscal year with the calendar year.
For additional information regarding Intel's results and Business Outlook, please see the CFO commentary here.
Latest News Posts
- Horizon Zero Dawn: solid 30FPS on the PS4 Pro
- AMD Ryzen explained: motherboards, CPUs, and more
- SpaceX successfully lands another Falcon 9 rocket
- Nintendo Switch teardown teases massive 4310mAh battery
- Mass Effect Andromeda's latest gameplay video is here
- Gigabyte GA-Z97X Gaming G1 M.2 SSD Supported?
- Asus PRIME B250-PLUS Integated Graphics issue
- Looking for help overclocking a GA-EP43-UD3L
- I5 6600k OC settings.. aorus z270
- ASUS K55VM (LAPTOP A55VM) can't control fan speed for myself
- ASUS announces VivoMini VC66R and VC66
- BIOSTAR RACING Series motherboard lineup for AMD RYZEN announced
- Team Group officially announces the T-FORCE DARK series memory module with ASUS ROG Certified
- MSI announces Aero ITX series graphics cards
- ASUS Republic of Gamers announces Strix Impact