Intel reported fourth quarter revenues of $20.5 billion ahead of guidance and up 3% year-over-year. Meanwhile, revenues for 2021 set an all-time record of $79 billion, up 1% over the prior year.
“Q4 represented a great finish to a great year,” CEO Pat Gelsinger said on Wednesday. It was Intel's 14th consecutive year of revenue growth, he said.
The company is forecasting first quarter 2022 revenue of about $18.3 billion.
Revenues for Intel’s data center group reached $7.3 billion in the fourth quarter, an all-time record, based on what Intel called strong server recovery in both enterprise and government sectors.
However, client computing sales were down by 7% for the fourth quarter year-over-year, reaching $10.1 billion. Even so, Intel noted that sales exceeded $10 billion, “proving that PCs are more essential than ever.”
Intel’s Internet of Things group had a record quarter at $1.1 billion, up 36%, while its Mobileye unit reached $356 million, up 7%. Intel has said it will initiate an IPO for the Mobileye unit later in 2022, while still retaining majority ownership.
Mobileye recently introduced a new EyeQ Ultra SoC for autonomous vehicles and announced plans to deliver level 4 autonomous technology in the Geely’s Zeekr brand in China in 2024. Mobileye’s mapping technology will be used with Volkswagen and Ford in driver assistance systems.
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Last week, Intel announced an investment of $20 billion to build two chip factories in Ohio. Manufacturing under Intel’s IDM 2.0 strategy is a major tenant of Gelsinger’s leadership plans. “We remain committed to driving long-term sustainable growth as we relentlessly executive our IDM 2.0 strategy,” he said in a statement.
In a call with analysts he said the IDM strategy puts Intel in a "superior position..we are able to react to rapid changes in demand."
Intel will sponsor an investor day on Feb. 17.
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