Intel reports earnings of $3.4 billion in Q1 2021, down 41% versus Q1 2020

Intel today reported its financial results for the first quarter of the year (Q1 2021), announcing GAAP revenue of $18.57 billion, down 1% from the same period last year (Q1 2020).

However, of that revenue, the company had a net income of $3.4 billion (-41%), while earnings per share fell 37%.

If we look at the breakdown, $10.6 billion of the total revenue came from the consumer PC market (+8%); $5.6 billion from Data Center (-20%); $914 million from Internet of Things (loTs -+4%); $377 million from Mobileye (+48%); and $486 million from Programmable Solutions (-6%).

Intel reports earnings of $3.4 billion in Q1 2021, down 41% versus Q1 2020

“Intel delivered solid first-quarter results, driven by exceptional demand for our leading products and outstanding execution by our team. The response to our new IDM 2.0 strategy has been outstanding, our product roadmap is gaining momentum and we are rapidly advancing our plans with a renewed focus on innovation and execution,” said Pat Gelsinger, Intel CEO.

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“This is a pivotal year for Intel. We are laying our strategic foundation and investing to accelerate our trajectory and capitalize on the explosive growth in semiconductors that are powering our increasingly digital world,” Gelsinger added.

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