Intel Corporation (NASDAQ:INTC) reported better-than-expected results for its fourth quarter and issued strong Q1 guidance.
The Santa Clara, Calif-based company also announced that its board of directors approved a 5% cash dividend increase to $1.32 per share on an annual basis. The board declared a quarterly dividend of $0.33 per share on the company’s common stock, which will be payable on March 1 to shareholders of record on February 7.
INTC pointed to record fourth-quarter revenue of $20.2 billion, up 8% year-over-year (YoY). Full-year revenue set an all-time record of $72.0 billion, up 2% YoY on data-centric growth.
Delivered outstanding fourth-quarter earnings per share (EPS) of $1.58 ($1.52 on a non-GAAP basis). In 2019, Intel generated record $33.1 billion cash from operations and $16.9 billion of free cash flow, and returned approximately $19.2 billion to shareholders.
Said CEO Bob Swan, "One year into our long-term financial plan, we have outperformed our revenue and EPS expectations. Looking ahead, we are investing to win the technology inflections of the future, play a bigger role in the success of our customers and increase shareholder returns."
The company known as "Mr. Chips" announced it’s expecting record 2020 revenue of approximately $73.5 billion and first-quarter revenue of approximately $19.0 billion.
In the fourth quarter, the company generated approximately $9.9 billion in cash from operations, paid dividends of $1.4 billion and used $3.5 billion to repurchase 63 million shares of stock.
Shares gained $4.99, or 7.9%, to $68.31
