{"id":62103,"date":"2021-03-24T12:45:40","date_gmt":"2021-03-24T11:45:40","guid":{"rendered":"https:\/\/www.planet3dnow.de\/cms\/?p=62103"},"modified":"2021-03-24T12:45:40","modified_gmt":"2021-03-24T11:45:40","slug":"intel-provides-financial-update-and-full-year-business-outlook","status":"publish","type":"post","link":"https:\/\/www.planet3dnow.de\/cms\/62103-intel-provides-financial-update-and-full-year-business-outlook\/","title":{"rendered":"Intel Provides Financial Update and Full-year Business Outlook"},"content":{"rendered":"<p><em>Expects Full-year 2021 Non-GAAP Reve\u00adnue of $72 bil\u00adli\u00adon and Non-GAAP <span class=\"caps\">EPS<\/span> of $4.55<\/em><\/p>\n<p><span class=\"caps\">SANTA<\/span> <span class=\"caps\">CLARA<\/span>, Calif., March 23, 2021 \u2014 Intel Cor\u00adpo\u00adra\u00adti\u00adon today pro\u00advi\u00added a finan\u00adcial update and full-year 2021 busi\u00adness outlook.<\/p>\n<p>The com\u00adpa\u00adny expects to exceed its pre\u00advious\u00adly com\u00admu\u00adni\u00adca\u00adted first-quar\u00adter 2021 non-GAAP reve\u00adnue and ear\u00adnings-per-share (<span class=\"caps\">EPS<\/span>) gui\u00addance, dri\u00adven by con\u00adtin\u00adued strong note\u00adbook demand.<\/p>\n<p>For the full year, Intel expects con\u00adtin\u00adued strong <span class=\"caps\">PC<\/span> demand with dou\u00adble-digit <span class=\"caps\">PC<\/span> <span class=\"caps\">TAM<\/span> per\u00adcen\u00adta\u00adge growth. Intel cli\u00adent <span class=\"caps\">CPU<\/span> sup\u00adp\u00adly is also expec\u00adted to be up dou\u00adble-digits year-over-year. Howe\u00adver, <span class=\"caps\">PC<\/span> reve\u00adnue will be tem\u00adpe\u00adred by the indus\u00adtry-wide shorta\u00adge of cri\u00adti\u00adcal third-par\u00adty com\u00adpon\u00adents, such as sub\u00adstra\u00adtes, which the com\u00adpa\u00adny is working with its sup\u00adp\u00adly chain part\u00adners to miti\u00adga\u00adte. Intel\u2019s full-year busi\u00adness out\u00adlook also reflects enti\u00adty list uncertainty.<\/p>\n<p><span class=\"dquo\">\u201c<\/span>2021 is a tran\u00adsi\u00adtio\u00adnal year as we acce\u00adle\u00adra\u00adte Intel\u2019s tra\u00adjec\u00adto\u00adry, invest in our future and impro\u00adve our exe\u00adcu\u00adti\u00adon,\u201d said Pat Gel\u00adsin\u00adger, Intel <span class=\"caps\">CEO<\/span>. \u201cWe\u2019re working aggres\u00adsi\u00adve\u00adly with our sup\u00adp\u00adly chain part\u00adners and lever\u00adaging our uni\u00adque manu\u00adfac\u00adtu\u00adring capa\u00adbi\u00adli\u00adties to sol\u00adve for indus\u00adtry-wide com\u00adpo\u00adnent shorta\u00adges and out\u00adper\u00adform this gui\u00adde. Given the incre\u00addi\u00adble demand for com\u00adpu\u00adting, the strength of our <span class=\"caps\">IDM<\/span> 2.0 stra\u00adtegy and the tech\u00adno\u00adlo\u00adgy invest\u00adments we\u2019re making, I\u2019m cer\u00adtain Intel\u2019s best days are in front of&nbsp;us.\u201d<\/p>\n<p><u>Full-Year 2021 Busi\u00adness Outlook<\/u><\/p>\n<p>Intel\u2019s gui\u00addance for the full-year includes both <span class=\"caps\">GAAP<\/span> and non-GAAP esti\u00adma\u00adtes. Our non-GAAP mea\u00adsu\u00adres exclude the <span class=\"caps\">NAND<\/span> memo\u00adry busi\u00adness, which is sub\u00adject to a pre\u00advious\u00adly-announ\u00adced pen\u00adding sale, as well as cer\u00adtain other items. Recon\u00adci\u00adlia\u00adti\u00adons bet\u00adween <span class=\"caps\">GAAP<\/span> and non-GAAP finan\u00adcial mea\u00adsu\u00adres are included below.<\/p>\n<p>&nbsp;<\/p>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td><strong>Full-Year 2021<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td><strong><span class=\"caps\">GAAP<\/span><\/strong><\/td>\n<td>&nbsp;<\/td>\n<td><strong>Non-GAAP<\/strong><\/td>\n<\/tr>\n<tr>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td>Appro\u00adxi\u00adm\u00adate\u00adly<\/td>\n<td>&nbsp;<\/td>\n<td>Appro\u00adxi\u00adm\u00adate\u00adly<\/td>\n<\/tr>\n<tr>\n<td>Reve\u00adnue<\/td>\n<td>&nbsp;<\/td>\n<td>$76.5 bil\u00adli\u00adon<\/td>\n<td>&nbsp;<\/td>\n<td>$72.0 bil\u00adli\u00adon<\/td>\n<\/tr>\n<tr>\n<td>Gross mar\u00adgin<\/td>\n<td>&nbsp;<\/td>\n<td>54.5%<\/td>\n<td>&nbsp;<\/td>\n<td>56.5%<\/td>\n<\/tr>\n<tr>\n<td>Tax rate<\/td>\n<td>&nbsp;<\/td>\n<td>19%<\/td>\n<td>&nbsp;<\/td>\n<td>13%<\/td>\n<\/tr>\n<tr>\n<td>Ear\u00adnings per&nbsp;share<\/td>\n<td>&nbsp;<\/td>\n<td>$4.00<\/td>\n<td>&nbsp;<\/td>\n<td>$4.55<\/td>\n<\/tr>\n<tr>\n<td>Full-year capi\u00adtal spending<\/td>\n<td>&nbsp;<\/td>\n<td>$19.0\u201320.0 bil\u00adli\u00adon<\/td>\n<td>&nbsp;<\/td>\n<td>$19.0\u201320.0 bil\u00adli\u00adon^<\/td>\n<\/tr>\n<tr>\n<td>Free cash&nbsp;flow<\/td>\n<td>&nbsp;<\/td>\n<td>N\/A<\/td>\n<td>&nbsp;<\/td>\n<td>$10.0 bil\u00adli\u00adon<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Actu\u00adal results may dif\u00adfer mate\u00adri\u00adal\u00adly from Intel\u2019s Busi\u00adness Out\u00adlook as a result of, among other things, the fac\u00adtors descri\u00adbed under \u201cFor\u00adward-Loo\u00adking State\u00adments\u201d below.<\/p>\n<p><u>Intel Unleas\u00adhed Webcast<\/u><\/p>\n<p>Today, Intel <span class=\"caps\">CEO<\/span> Pat Gel\u00adsin\u00adger out\u00adlined the company\u2019s path for\u00adward to manu\u00adfac\u00adtu\u00adre, design and deli\u00adver lea\u00adder\u00adship pro\u00adducts and crea\u00adte long-term value for stake\u00adhol\u00adders. During the company\u2019s glo\u00adbal \u201cIntel Unleas\u00adhed: Engi\u00adnee\u00adring the Future\u201d web\u00adcast, Gel\u00adsin\u00adger shared his visi\u00adon for \u2018<span class=\"caps\">IDM<\/span> 2.0,\u2019 a major evo\u00adlu\u00adti\u00adon of Intel\u2019s inte\u00adgra\u00adted device manu\u00adfac\u00adtu\u00adring (<span class=\"caps\">IDM<\/span>) model. A replay and mate\u00adri\u00adals from today\u2019s web\u00adcast are available at www.intel.com\/newsroom.<\/p>\n<p><u><span class=\"caps\">Q1<\/span> Ear\u00adnings Webcast<\/u><\/p>\n<p>As pre\u00advious\u00adly announ\u00adced, Intel plans to report its ear\u00adnings for the first quar\u00adter of 2021 on April 22, 2021 prompt\u00adly after clo\u00adse of mar\u00adket, and rela\u00adted mate\u00adri\u00adals will be available at www.intc.com. A public web\u00adcast of Intel\u2019s ear\u00adnings con\u00adfe\u00adrence call will fol\u00adlow at 2:00 p.m. <span class=\"caps\">PDT<\/span> at www.intc.com.<\/p>\n<p><u>For\u00adward-Loo\u00adking Statements<\/u><\/p>\n<p>Intel\u2019s Busi\u00adness Out\u00adlook and other state\u00adments in this release that refer to future plans and expec\u00adta\u00adti\u00adons are for\u00adward-loo\u00adking state\u00adments that invol\u00adve a num\u00adber of risks and uncer\u00adtain\u00adties. Words such as \u201canti\u00adci\u00adpa\u00adtes,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cgoals,\u201d \u201cplans,\u201d \u201cfore\u00adcast,\u201d \u201cgui\u00addance,\u201d \u201cbelie\u00adves,\u201d \u201cseeks,\u201d \u201cesti\u00adma\u00adtes,\u201d \u201ccon\u00adti\u00adnues,\u201d \u201cacce\u00adle\u00adra\u00adte,\u201d \u201cfor\u00adward,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201ccould,\u201d and varia\u00adti\u00adons of such words and simi\u00adlar expres\u00adsi\u00adons are inten\u00added to iden\u00adti\u00adfy such for\u00adward-loo\u00adking state\u00adments. State\u00adments that refer to or are based on esti\u00adma\u00adtes, fore\u00adcasts, pro\u00adjec\u00adtions, uncer\u00adtain events or assump\u00adti\u00adons, inclu\u00adding state\u00adments rela\u00adting to the pen\u00adding sale of our <span class=\"caps\">NAND<\/span> memo\u00adry busi\u00adness, mar\u00adket oppor\u00adtu\u00adni\u00adty and total addressa\u00adble mar\u00adket (<span class=\"caps\">TAM<\/span>), future pro\u00adduct demand, sup\u00adp\u00adly expec\u00adta\u00adti\u00adons, com\u00adpo\u00adnent shorta\u00adges and the impact of such shorta\u00adges, enti\u00adty list rest\u00adric\u00adtions and the impact of such rest\u00adric\u00adtions, future finan\u00adcial per\u00adfor\u00admance, busi\u00adness plans and their anti\u00adci\u00adpa\u00adted bene\u00adfits, future pro\u00adducts and tech\u00adno\u00adlo\u00adgy and the expec\u00adted avai\u00adla\u00adbi\u00adli\u00adty and bene\u00adfits of such pro\u00adducts and tech\u00adno\u00adlo\u00adgy, and anti\u00adci\u00adpa\u00adted trends in our busi\u00adnesses or the mar\u00adkets rele\u00advant to them, also iden\u00adti\u00adfy for\u00adward-loo\u00adking state\u00adments. All for\u00adward-loo\u00adking state\u00adments included in this release are based on management\u2019s expec\u00adta\u00adti\u00adons as of the date of this release and, except as requi\u00adred by law, Intel dis\u00adclaims any obli\u00adga\u00adti\u00adon to update the\u00adse for\u00adward-loo\u00adking state\u00adments to reflect future events or cir\u00adcum\u00ads\u00adtances. For\u00adward-loo\u00adking state\u00adments invol\u00adve many risks and uncer\u00adtain\u00adties that could cau\u00adse actu\u00adal results to dif\u00adfer mate\u00adri\u00adal\u00adly from tho\u00adse expres\u00adsed or impli\u00aded in such state\u00adments. Intel pre\u00adsent\u00adly con\u00adsiders the fol\u00adlo\u00adwing to be among the important fac\u00adtors that can cau\u00adse actu\u00adal results to dif\u00adfer mate\u00adri\u00adal\u00adly from the company\u2019s expectations.<\/p>\n<ul>\n<li>Demand for Intel\u2019s pro\u00adducts is high\u00adly varia\u00adble and can dif\u00adfer from expec\u00adta\u00adti\u00adons due to fac\u00adtors inclu\u00adding chan\u00adges in busi\u00adness and eco\u00adno\u00admic con\u00addi\u00adti\u00adons; cus\u00adto\u00admer con\u00adfi\u00addence or inco\u00adme levels, and the levels of cus\u00adto\u00admer capi\u00adtal spen\u00adding; the intro\u00adduc\u00adtion, avai\u00adla\u00adbi\u00adli\u00adty and mar\u00adket accep\u00adtance of Intel\u2019s pro\u00adducts, pro\u00adducts used tog\u00ade\u00adther with Intel pro\u00adducts, and com\u00adpe\u00adti\u00adtors\u2019 pro\u00adducts; com\u00adpe\u00adti\u00adti\u00adve and pri\u00adcing pres\u00adsu\u00adres, inclu\u00adding actions taken by com\u00adpe\u00adti\u00adtors; sup\u00adp\u00adly cons\u00adtraints and other dis\u00adrup\u00adti\u00adons affec\u00adting cus\u00adto\u00admers; chan\u00adges in cus\u00adto\u00admer order pat\u00adterns inclu\u00adding order can\u00adcel\u00adla\u00adti\u00adons; chan\u00adges in cus\u00adto\u00admer needs and emer\u00adging tech\u00adno\u00adlo\u00adgy trends; and chan\u00adges in the level of inven\u00adto\u00adry and com\u00adpu\u00adting capa\u00adci\u00adty at customers.<\/li>\n<li>Intel\u2019s results can vary signi\u00adfi\u00adcant\u00adly from expec\u00adta\u00adti\u00adons based on capa\u00adci\u00adty uti\u00adliza\u00adti\u00adon; varia\u00adti\u00adons in inven\u00adto\u00adry valua\u00adti\u00adon, inclu\u00adding varia\u00adti\u00adons rela\u00adted to the timing of qua\u00adli\u00adfy\u00ading pro\u00adducts for sale; chan\u00adges in reve\u00adnue levels; seg\u00adment pro\u00adduct mix; the timing and exe\u00adcu\u00adti\u00adon of the manu\u00adfac\u00adtu\u00adring ramp and asso\u00adcia\u00adted cos\u00adts; excess or obso\u00adle\u00adte inven\u00adto\u00adry; chan\u00adges in unit cos\u00adts; defects or dis\u00adrup\u00adti\u00adons in the sup\u00adp\u00adly of mate\u00adri\u00adals or resour\u00adces, inclu\u00adding as a result of ongo\u00ading indus\u00adtry shorta\u00adges of com\u00adpon\u00adents such as sub\u00adstra\u00adtes; pro\u00adduct manu\u00adfac\u00adtu\u00adring quality\/yields; and chan\u00adges in capi\u00adtal requi\u00adre\u00adments and invest\u00adment plans. Varia\u00adti\u00adons in results can also be cau\u00adsed by the timing of Intel pro\u00adduct intro\u00adduc\u00adtions and rela\u00adted expen\u00adses, inclu\u00adding mar\u00adke\u00adting pro\u00adgrams, and Intel\u2019s abili\u00adty to respond quick\u00adly to tech\u00adno\u00adlo\u00adgi\u00adcal deve\u00adlo\u00adp\u00adments and to intro\u00addu\u00adce new pro\u00adducts or incor\u00adpo\u00adra\u00adte new fea\u00adtures into exis\u00adting pro\u00adducts, as well as decis\u00adi\u00adons to exit pro\u00adduct lines or busi\u00adnesses, which can result in res\u00adtruc\u00adtu\u00adring and asset impair\u00adment charges.<\/li>\n<li>Intel\u2019s results can be affec\u00adted by adver\u00adse eco\u00adno\u00admic, social, poli\u00adti\u00adcal and physical\/infrastructure con\u00addi\u00adti\u00adons in count\u00adries whe\u00adre Intel, its cus\u00adto\u00admers or its sup\u00adpli\u00aders ope\u00adra\u00adte, inclu\u00adding reces\u00adsi\u00adon or slo\u00adwing growth, mili\u00adta\u00adry con\u00adflict and other secu\u00adri\u00adty risks, natu\u00adral dis\u00adas\u00adters, infra\u00adstruc\u00adtu\u00adre dis\u00adrup\u00adti\u00adons, health con\u00adcerns (inclu\u00adding the <span class=\"caps\">COVID-19<\/span> pan\u00adde\u00admic), fluc\u00adtua\u00adtions in cur\u00adren\u00adcy exch\u00adan\u00adge rates, sanc\u00adtions and tariffs, poli\u00adti\u00adcal dis\u00adpu\u00adtes, chan\u00adges in govern\u00adment grants and incen\u00adti\u00adves, and con\u00adti\u00adnuing uncer\u00adtain\u00adty regar\u00adding social, poli\u00adti\u00adcal, immi\u00adgra\u00adti\u00adon, and tax and trade poli\u00adci\u00ades in the U.S. and abroad. Results can also be affec\u00adted by the for\u00admal or infor\u00admal impo\u00adsi\u00adti\u00adon by count\u00adries of new or revi\u00adsed export and\/or import and doing-busi\u00adness regu\u00adla\u00adti\u00adons, inclu\u00adding chan\u00adges or uncer\u00adtain\u00adty rela\u00adted to the U.S. govern\u00adment enti\u00adty list and chan\u00adges in the abili\u00adty to obtain export licen\u00adses, which can be chan\u00adged wit\u00adhout pri\u00ador notice.<\/li>\n<li>The <span class=\"caps\">COVID-19<\/span>&nbsp;pan\u00adde\u00admic has adver\u00adse\u00adly affec\u00adted signi\u00adfi\u00adcant por\u00adti\u00adons of Intel\u2019s busi\u00adness and could have a mate\u00adri\u00adal adver\u00adse effect on Intel\u2019s finan\u00adcial con\u00addi\u00adti\u00adon and results of ope\u00adra\u00adti\u00adons. The pan\u00adde\u00admic has resul\u00adted in aut\u00adho\u00adri\u00adties impo\u00adsing num\u00ade\u00adrous mea\u00adsu\u00adres to try to con\u00adtain the virus. The\u00adse mea\u00adsu\u00adres have impac\u00adted and may fur\u00adther impact our work\u00adforce and ope\u00adra\u00adti\u00adons, the ope\u00adra\u00adti\u00adons of our cus\u00adto\u00admers, and tho\u00adse of our respec\u00adti\u00adve ven\u00addors, sup\u00adpli\u00aders, and part\u00adners. Rest\u00adric\u00adtions on our manu\u00adfac\u00adtu\u00adring or sup\u00adport ope\u00adra\u00adti\u00adons or work\u00adforce, or simi\u00adlar limi\u00adta\u00adti\u00adons for our ven\u00addors and sup\u00adpli\u00aders, can impact our abili\u00adty to meet cus\u00adto\u00admer demand and could have a mate\u00adri\u00adal adver\u00adse effect on us. Cur\u00adrent and future rest\u00adric\u00adtions or dis\u00adrup\u00adti\u00adons of trans\u00adpor\u00adta\u00adti\u00adon, or dis\u00adrup\u00adti\u00adons in our cus\u00adto\u00admers\u2019 ope\u00adra\u00adti\u00adons and sup\u00adp\u00adly chains, may adver\u00adse\u00adly affect our results of ope\u00adra\u00adti\u00adons. The pan\u00adde\u00admic&nbsp;has cau\u00adsed us to modi\u00adfy our busi\u00adness prac\u00adti\u00adces. The\u00adre is no cer\u00adtain\u00adty that such mea\u00adsu\u00adres will be suf\u00adfi\u00adci\u00adent to miti\u00adga\u00adte the risks posed by the virus, and ill\u00adness and work\u00adforce dis\u00adrup\u00adti\u00adons could lead to unavai\u00adla\u00adbi\u00adli\u00adty of our key per\u00adson\u00adnel and harm our abili\u00adty to per\u00adform cri\u00adti\u00adcal func\u00adtions. The pan\u00adde\u00admic has signi\u00adfi\u00adcant\u00adly increased eco\u00adno\u00admic and demand uncer\u00adtain\u00adty. Demand for our pro\u00adducts has been har\u00admed in seve\u00adral are\u00adas of our busi\u00adness and\/or could be mate\u00adri\u00adal\u00adly har\u00admed in the future. The pan\u00adde\u00admic has led to increased dis\u00adrup\u00adti\u00adon and vola\u00adti\u00adli\u00adty in capi\u00adtal mar\u00adkets and cre\u00addit mar\u00adkets, which could adver\u00adse\u00adly affect our liqui\u00addi\u00adty and capi\u00adtal resour\u00adces. An eco\u00adno\u00admic slow\u00addown or reces\u00adsi\u00adon can also result in adver\u00adse impacts such as increased cre\u00addit and coll\u00adec\u00adti\u00adbi\u00adli\u00adty risks, adver\u00adse impacts on our sup\u00adpli\u00aders, fail\u00adures of coun\u00adter\u00adpar\u00adties, asset impairm\u00adents, and decli\u00adnes in the value of our finan\u00adcial instru\u00adments. The degree to which&nbsp;<span class=\"caps\">COVID-19<\/span>&nbsp;impacts our results will depend on future deve\u00adlo\u00adp\u00adments, which are high\u00adly uncer\u00adtain and can\u00adnot be pre\u00addic\u00adted, and our Busi\u00adness Out\u00adlook is sub\u00adject to con\u00adsidera\u00adble uncer\u00adtain\u00adty. The impact of the pan\u00adde\u00admic can also exa\u00adcer\u00adba\u00adte other risks dis\u00adcus\u00adsed in this section.<\/li>\n<li>Intel ope\u00adra\u00adtes in high\u00adly com\u00adpe\u00adti\u00adti\u00adve indus\u00adtries and its ope\u00adra\u00adti\u00adons have high cos\u00adts that are eit\u00adher fixed or dif\u00adfi\u00adcult to redu\u00adce in the short term. In addi\u00adti\u00adon, we have ente\u00adred new are\u00adas and intro\u00addu\u00adced adja\u00adcent pro\u00adducts, whe\u00adre we face new sources of com\u00adpe\u00adti\u00adti\u00adon and uncer\u00adtain mar\u00adket demand or accep\u00adtance of our pro\u00adducts, and the\u00adse new are\u00adas and pro\u00adducts do not always grow as projected.<\/li>\n<li>The amount, timing, and exe\u00adcu\u00adti\u00adon of Intel\u2019s stock repurcha\u00adse pro\u00adgram fluc\u00adtua\u00adte based on Intel\u2019s prio\u00adri\u00adties for the use of cash for other purposes\u2014such as inves\u00adt\u00ading in our busi\u00adness, inclu\u00adding ope\u00adra\u00adtio\u00adnal and capi\u00adtal spen\u00adding, acqui\u00adsi\u00adti\u00adons, and retur\u00adning cash to our stock\u00adhol\u00adders as divi\u00addend payments\u2014and becau\u00adse of chan\u00adges in cash flows, tax laws, and other laws, or the mar\u00adket pri\u00adce of our com\u00admon stock. Our stock repurcha\u00adse pro\u00adgram may be sus\u00adpen\u00added or ter\u00admi\u00adna\u00adted at any&nbsp;time.<\/li>\n<li>Intel\u2019s expec\u00adted tax rate is based on cur\u00adrent tax law, inclu\u00adding cur\u00adrent inter\u00adpre\u00adta\u00adti\u00adons of the Tax Cuts and Jobs Act of 2017 (<span class=\"caps\">TCJA<\/span>), and cur\u00adrent expec\u00adted inco\u00adme and can be affec\u00adted by evol\u00adving inter\u00adpre\u00adta\u00adti\u00adons of <span class=\"caps\">TCJA<\/span>; chan\u00adges in the volu\u00adme and mix of pro\u00adfits ear\u00adned and loca\u00adti\u00adon of assets across juris\u00addic\u00adtions with vary\u00ading tax rates; chan\u00adges in the esti\u00adma\u00adtes of cre\u00addits, bene\u00adfits, and deduc\u00adtions; the reso\u00adlu\u00adti\u00adon of issues ari\u00adsing from tax audits with various tax aut\u00adho\u00adri\u00adties, inclu\u00adding pay\u00adment of inte\u00adrest and pen\u00adal\u00adties; and the abili\u00adty to rea\u00adli\u00adze defer\u00adred tax assets.<\/li>\n<li>Intel\u2019s results can be affec\u00adted by gains or los\u00adses from equi\u00adty secu\u00adri\u00adties and inte\u00adrest and other, which can vary depen\u00adding on gains or los\u00adses on the chan\u00adge in fair value, sale, exch\u00adan\u00adge, or impairm\u00adents of equi\u00adty and debt invest\u00adments, inte\u00adrest rates, cash balan\u00adces, and chan\u00adges in fair value of deri\u00adva\u00adti\u00adve instruments.<\/li>\n<li>Pro\u00adduct defects or erra\u00adta (devia\u00adti\u00adons from published spe\u00adci\u00adfi\u00adca\u00adti\u00adons) can adver\u00adse\u00adly impact our expen\u00adses, reve\u00adnues, and reputation.<\/li>\n<li>We or third par\u00adties regu\u00adlar\u00adly iden\u00adti\u00adfy secu\u00adri\u00adty vul\u00adnerabi\u00adli\u00adties with respect to our pro\u00adces\u00adsors and other pro\u00adducts as well as the ope\u00adra\u00adting sys\u00adtems and workloads run\u00adning on them. Secu\u00adri\u00adty vul\u00adnerabi\u00adli\u00adties and any limi\u00adta\u00adti\u00adons of, or adver\u00adse effects resul\u00adting from, miti\u00adga\u00adti\u00adon tech\u00adni\u00adques can adver\u00adse\u00adly affect our results of ope\u00adra\u00adti\u00adons, finan\u00adcial con\u00addi\u00adti\u00adon, cus\u00adto\u00admer rela\u00adti\u00adonships, pro\u00ads\u00adpects, and repu\u00adta\u00adti\u00adon in a num\u00adber of ways, any of which may be mate\u00adri\u00adal, inclu\u00adding incur\u00adring signi\u00adfi\u00adcant cos\u00adts rela\u00adted to deve\u00adlo\u00adping and deploy\u00ading updates and miti\u00adga\u00adti\u00adons, wri\u00adting down inven\u00adto\u00adry value, a reduc\u00adtion in the com\u00adpe\u00adti\u00adti\u00adve\u00adness of our pro\u00adducts, defen\u00adding against pro\u00adduct claims and liti\u00adga\u00adti\u00adon, respon\u00adding to regu\u00adla\u00adto\u00adry inqui\u00adries or actions, pay\u00ading dama\u00adges, addres\u00adsing cus\u00adto\u00admer satis\u00adfac\u00adtion con\u00adside\u00adra\u00adti\u00adons, or taking other reme\u00addi\u00adal steps with respect to third par\u00adties. Adver\u00adse publi\u00adci\u00adty about secu\u00adri\u00adty vul\u00adnerabi\u00adli\u00adties or miti\u00adga\u00adti\u00adons could dama\u00adge our repu\u00adta\u00adti\u00adon with cus\u00adto\u00admers or users and redu\u00adce demand for our pro\u00adducts and services.<\/li>\n<li>Intel\u2019s results can be affec\u00adted by liti\u00adga\u00adti\u00adon or regu\u00adla\u00adto\u00adry mat\u00adters invol\u00adving intellec\u00adtu\u00adal pro\u00adper\u00adty, stock\u00adhol\u00adder, con\u00adsu\u00admer, anti\u00adtrust, com\u00admer\u00adcial, dis\u00adclo\u00adsure, and other issues, as well as by the impact and timing of sett\u00adle\u00adments and dis\u00adpu\u00adte reso\u00adlu\u00adti\u00adons. For exam\u00adp\u00adle, Intel\u2019s full-year <span class=\"caps\">GAAP<\/span> ear\u00adnings per share gui\u00addance reflects the impact of a char\u00adge rela\u00adted to a ver\u00addict in liti\u00adga\u00adti\u00adon invol\u00adving <span class=\"caps\">VLSI<\/span> Tech\u00adno\u00adlo\u00adgy <span class=\"caps\">LLC<\/span> (<span class=\"caps\">VLSI<\/span>). An unfa\u00advorable ruling can include mone\u00adta\u00adry dama\u00adges or an injunc\u00adtion pro\u00adhi\u00adbi\u00adting us from manu\u00adfac\u00adtu\u00adring or sel\u00adling one or more pro\u00adducts, pre\u00adclu\u00adding par\u00adti\u00adcu\u00adlar busi\u00adness prac\u00adti\u00adces, impac\u00adting our abili\u00adty to design pro\u00adducts, or requi\u00adring other reme\u00addies such as com\u00adpul\u00adso\u00adry licen\u00adsing of intellec\u00adtu\u00adal property.<\/li>\n<li>Intel\u2019s results can be affec\u00adted by the impact and timing of clo\u00adsing of acqui\u00adsi\u00adti\u00adons, dives\u00adti\u00adtures, and other signi\u00adfi\u00adcant tran\u00adsac\u00adtions. In addi\u00adti\u00adon, the\u00adse tran\u00adsac\u00adtions do not always achie\u00adve our finan\u00adcial or stra\u00adte\u00adgic objec\u00adti\u00adves and can dis\u00adrupt our ongo\u00ading busi\u00adness and adver\u00adse\u00adly impact our results of ope\u00adra\u00adti\u00adons. We may not rea\u00adli\u00adze the expec\u00adted bene\u00adfits of port\u00adfo\u00adlio decis\u00adi\u00adons due to num\u00ade\u00adrous risks, inclu\u00adding unfa\u00advorable pri\u00adces and terms; chan\u00adges in mar\u00adket con\u00addi\u00adti\u00adons; limi\u00adta\u00adti\u00adons due to regu\u00adla\u00adto\u00adry or govern\u00admen\u00adtal appr\u00adovals, con\u00adtrac\u00adtu\u00adal terms, or other con\u00addi\u00adti\u00adons; and poten\u00adti\u00adal con\u00adtin\u00adued finan\u00adcial obli\u00adga\u00adti\u00adons asso\u00adcia\u00adted with such tran\u00adsac\u00adtions. Risks and uncer\u00adtain\u00adties rela\u00adting to the pen\u00adding sale of our <span class=\"caps\">NAND<\/span> memo\u00adry busi\u00adness to <span class=\"caps\">SK<\/span> hynix are descri\u00adbed in our Form 10\u2011K filed with the <span class=\"caps\">SEC<\/span> on Janu\u00adary 22,&nbsp;2021.<\/li>\n<\/ul>\n<p>Detail\u00aded infor\u00adma\u00adti\u00adon regar\u00adding the\u00adse and other fac\u00adtors that could affect Intel\u2019s busi\u00adness and results is included in Intel\u2019s <span class=\"caps\">SEC<\/span> filings, inclu\u00adding the company\u2019s most recent reports on Forms 10\u2011K and 10\u2011Q, par\u00adti\u00adcu\u00adlar\u00adly the \u201cRisk Fac\u00adtors\u201d sec\u00adtions of tho\u00adse reports. Copies of the\u00adse filings may be obtai\u00adned by visi\u00adting our Inves\u00adtor Rela\u00adti\u00adons web\u00adsite at www.intc.com or the <span class=\"caps\">SEC<\/span>\u2019s web\u00adsite at www.sec.gov.<\/p>\n<p>&nbsp;<\/p>\n<p><u>About Intel<\/u><\/p>\n<p>Intel (Nasdaq: <span class=\"caps\">INTC<\/span>) is an indus\u00adtry lea\u00adder, crea\u00adting world-chan\u00adging tech\u00adno\u00adlo\u00adgy that enables glo\u00adbal pro\u00adgress and enri\u00adches lives. Inspi\u00adred by Moore\u2019s Law, we con\u00adti\u00adnuous\u00adly work to advan\u00adce the design and manu\u00adfac\u00adtu\u00adring of semi\u00adcon\u00adduc\u00adtors to help address our cus\u00adto\u00admers\u2019 grea\u00adtest chal\u00adlenges. By embed\u00adding intel\u00adli\u00adgence in the cloud, net\u00adwork, edge and every kind of com\u00adpu\u00adting device, we unleash the poten\u00adti\u00adal of data to trans\u00adform busi\u00adness and socie\u00adty for the bet\u00adter. To learn more about Intel\u2019s inno\u00adva\u00adtions, go to newsroom.intel.com and intel.com.<\/p>\n<p>\u00a9 Intel Cor\u00adpo\u00adra\u00adti\u00adon. Intel, the Intel logo, and other Intel marks are trade\u00admarks of Intel Cor\u00adpo\u00adra\u00adti\u00adon or its sub\u00adsi\u00addia\u00adries. Other names and brands may be clai\u00admed as the pro\u00adper\u00adty of others.<\/p>\n<p>Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n<p>Expl\u00adana\u00adti\u00adon of Non-GAAP Measures<\/p>\n<p>In addi\u00adti\u00adon to dis\u00adclo\u00adsing finan\u00adcial results in accordance with U.S. <span class=\"caps\">GAAP<\/span>, this docu\u00adment con\u00adta\u00adins refe\u00adren\u00adces to the non-GAAP finan\u00adcial mea\u00adsu\u00adres below. We belie\u00adve the\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres pro\u00advi\u00adde inves\u00adtors with useful sup\u00adple\u00admen\u00adtal infor\u00adma\u00adti\u00adon about our ope\u00adra\u00adting per\u00adfor\u00admance, enable com\u00adpa\u00adri\u00adson of finan\u00adcial trends and results bet\u00adween peri\u00adods whe\u00adre cer\u00adtain items may vary inde\u00adpen\u00addent of busi\u00adness per\u00adfor\u00admance, and allow for grea\u00adter trans\u00adpa\u00adren\u00adcy with respect to key metrics used by manage\u00adment in ope\u00adra\u00adting our busi\u00adness and mea\u00adsu\u00adring our performance.<\/p>\n<p>Our non-GAAP finan\u00adcial mea\u00adsu\u00adres reflect adjus\u00adt\u00adments based on one or more of the fol\u00adlo\u00adwing items, as well as the rela\u00adted inco\u00adme tax effects whe\u00adre appli\u00adca\u00adble. Inco\u00adme tax effects have been cal\u00adcu\u00adla\u00adted using an appro\u00adpria\u00adte tax rate for each adjus\u00adt\u00adment. The 2021 char\u00adge rela\u00adted to the <span class=\"caps\">VLSI<\/span> ver\u00addict is expec\u00adted to be deduc\u00adti\u00adble for tax pur\u00adpo\u00adses. The\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres should not be con\u00adside\u00adred a sub\u00adsti\u00adtu\u00adte for, or supe\u00adri\u00ador to, finan\u00adcial mea\u00adsu\u00adres cal\u00adcu\u00adla\u00adted in accordance with U.S. <span class=\"caps\">GAAP<\/span>, and the finan\u00adcial results cal\u00adcu\u00adla\u00adted in accordance with U.S. <span class=\"caps\">GAAP<\/span> and recon\u00adci\u00adlia\u00adti\u00adons from the\u00adse results should be careful\u00adly evaluated.<\/p>\n<table class=\"news-earnings-table\" width=\"100%\">\n<tbody>\n<tr>\n<td><strong>Non-GAAP adjus\u00adt\u00adment or measure<\/strong><\/td>\n<td><strong>Defi\u00adni\u00adti\u00adon<\/strong><\/td>\n<td><strong>Useful\u00adness to manage\u00adment and investors<\/strong><\/td>\n<\/tr>\n<tr>\n<td><span class=\"caps\">NAND<\/span> memo\u00adry business<\/td>\n<td>Our <span class=\"caps\">NAND<\/span> memo\u00adry busi\u00adness is sub\u00adject to a pen\u00adding sale to <span class=\"caps\">SK<\/span> hynix, as announ\u00adced in Octo\u00adber&nbsp;2020.<\/td>\n<td>We exclude the impact of our <span class=\"caps\">NAND<\/span> memo\u00adry busi\u00adness in cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse the\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our core ope\u00adra\u00adtio\u00adnal per\u00adfor\u00admance as view\u00aded by management.<\/td>\n<\/tr>\n<tr>\n<td>Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n<td>Amor\u00adtiza\u00adti\u00adon of acqui\u00adsi\u00adti\u00adon-rela\u00adted intan\u00adgi\u00adble assets con\u00adsists of amor\u00adtiza\u00adti\u00adon of intan\u00adgi\u00adble assets such as deve\u00adlo\u00adped tech\u00adno\u00adlo\u00adgy, brands, and cus\u00adto\u00admer rela\u00adti\u00adonships acqui\u00adred in con\u00adnec\u00adtion with busi\u00adness com\u00adbi\u00adna\u00adti\u00adons. Char\u00adges rela\u00adted to the amor\u00adtiza\u00adti\u00adon of the\u00adse intan\u00adgi\u00adbles are recor\u00added within both cost of sales and <span class=\"caps\">MG<\/span><span class=\"amp\">&amp;<\/span>A in our U.S. <span class=\"caps\">GAAP<\/span> finan\u00adcial state\u00adments. Amor\u00adtiza\u00adti\u00adon char\u00adges are recor\u00added over the esti\u00adma\u00adted useful life of the rela\u00adted acqui\u00adred intan\u00adgi\u00adble asset, and thus are gene\u00adral\u00adly recor\u00added over mul\u00adti\u00adple&nbsp;years.<\/td>\n<td>We exclude amor\u00adtiza\u00adti\u00adon char\u00adges for our acqui\u00adsi\u00adti\u00adon-rela\u00adted intan\u00adgi\u00adble assets for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse the\u00adse char\u00adges are incon\u00adsis\u00adtent in size and are signi\u00adfi\u00adcant\u00adly impac\u00adted by the timing and valua\u00adti\u00adon of our acqui\u00adsi\u00adti\u00adons. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adson to our past ope\u00adra\u00adting per\u00adfor\u00admance and pro\u00advi\u00adde inves\u00adtors with addi\u00adtio\u00adnal means to eva\u00adlua\u00adte cost and expen\u00adse trends.<\/td>\n<\/tr>\n<tr>\n<td>Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n<td>Res\u00adtruc\u00adtu\u00adring char\u00adges are cos\u00adts asso\u00adcia\u00adted with a for\u00admal res\u00adtruc\u00adtu\u00adring plan and are pri\u00adma\u00adri\u00adly rela\u00adted to employee sever\u00adance and bene\u00adfit arran\u00adge\u00adments. Other char\u00adges include a char\u00adge rela\u00adted to the <span class=\"caps\">VLSI<\/span> ver\u00addict, asset impairm\u00adents, pen\u00adsi\u00adon char\u00adges, and cos\u00adts asso\u00adcia\u00adted with res\u00adtruc\u00adtu\u00adring activity.<\/td>\n<td>We exclude res\u00adtruc\u00adtu\u00adring and other char\u00adges, inclu\u00adding any adjus\u00adt\u00adments to char\u00adges recor\u00added in pri\u00ador peri\u00adods, for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse the\u00adse cos\u00adts do not reflect our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adsons to past ope\u00adra\u00adting results and pro\u00advi\u00adde inves\u00adtors with addi\u00adtio\u00adnal means to eva\u00adlua\u00adte expen\u00adse trends.<\/td>\n<\/tr>\n<tr>\n<td>Gains (los\u00adses) from divestiture<\/td>\n<td>Gains or los\u00adses are reco\u00adgni\u00adzed at the clo\u00adse of a divestiture.<\/td>\n<td>We exclude gains or los\u00adses resul\u00adting from dives\u00adti\u00adtures for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse they do not reflect our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adsons to past ope\u00adra\u00adting results.<\/td>\n<\/tr>\n<tr>\n<td>Free cash&nbsp;flow<\/td>\n<td>We refe\u00adrence a non-GAAP finan\u00adcial mea\u00adsu\u00adre of free cash flow, which is used by manage\u00adment when asses\u00adsing our sources of liqui\u00addi\u00adty, capi\u00adtal resour\u00adces, and qua\u00adli\u00adty of ear\u00adnings. Free cash flow is ope\u00adra\u00adting cash flow adjus\u00adted to exclude addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equipment.<\/td>\n<td>This non-GAAP finan\u00adcial mea\u00adsu\u00adre is hel\u00adpful in under\u00adstan\u00adding our capi\u00adtal requi\u00adre\u00adments and pro\u00advi\u00addes an addi\u00adtio\u00adnal means to eva\u00adlua\u00adte the cash flow trends of our busi\u00adness. We excluded addi\u00adti\u00adons to held for sale <span class=\"caps\">NAND<\/span> pro\u00adper\u00adty, plant and equip\u00adment becau\u00adse the addi\u00adti\u00adons are not repre\u00adsen\u00adta\u00adti\u00adve of our long-term capi\u00adtal requi\u00adre\u00adments and we expect the\u00adse assets to be&nbsp;sold.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n<p>Sup\u00adple\u00admen\u00adtal Recon\u00adci\u00adlia\u00adti\u00adons of <span class=\"caps\">GAAP<\/span> Out\u00adlook to Non-GAAP Outlook<\/p>\n<p>Set forth below are recon\u00adci\u00adlia\u00adti\u00adons of the non-GAAP finan\u00adcial mea\u00adsu\u00adre to the most direct\u00adly com\u00adpa\u00adra\u00adble U.S. <span class=\"caps\">GAAP<\/span> finan\u00adcial mea\u00adsu\u00adre. The\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres should not be con\u00adside\u00adred a sub\u00adsti\u00adtu\u00adte for, or supe\u00adri\u00ador to, finan\u00adcial mea\u00adsu\u00adres cal\u00adcu\u00adla\u00adted in accordance with U.S. <span class=\"caps\">GAAP<\/span>, and the finan\u00adcial out\u00adlook pre\u00adpared in accordance with U.S. <span class=\"caps\">GAAP<\/span> and the recon\u00adci\u00adlia\u00adti\u00adons from this Busi\u00adness Out\u00adlook should be careful\u00adly evaluated.<\/p>\n<p>Plea\u00adse refer to \u201cExpl\u00adana\u00adti\u00adon of Non-GAAP Mea\u00adsu\u00adres\u201d in this docu\u00adment for a detail\u00aded expl\u00adana\u00adti\u00adon of the adjus\u00adt\u00adments made to the com\u00adpa\u00adra\u00adble U.S. <span class=\"caps\">GAAP<\/span> mea\u00adsu\u00adres, the ways manage\u00adment uses the non-GAAP mea\u00adsu\u00adres, and the reasons why manage\u00adment belie\u00adves the non-GAAP mea\u00adsu\u00adres pro\u00advi\u00adde useful infor\u00adma\u00adti\u00adon for investors.<\/p>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"3\"><strong>Full-Year 2021<\/strong><\/td>\n<\/tr>\n<tr>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"3\">Appro\u00adxi\u00adm\u00adate\u00adly<\/td>\n<\/tr>\n<tr>\n<td><strong><span class=\"caps\">GAAP<\/span> net revenue<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td width=\"11\"><strong>$<\/strong><\/td>\n<td width=\"116\"><strong>76.5&nbsp;<\/strong><\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td><span class=\"caps\">NAND<\/span> memo\u00adry business<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\">(4.5)<\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td><strong>Non-GAAP net revenue<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td width=\"11\"><strong>$<\/strong><\/td>\n<td width=\"116\"><strong>72.0&nbsp;<\/strong><\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"3\" width=\"133\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td><strong><span class=\"caps\">GAAP<\/span> gross margin<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\"><strong>54.5&nbsp;<\/strong><\/td>\n<td width=\"7\"><strong>%<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\">1.7&nbsp;<\/td>\n<td width=\"7\">%<\/td>\n<\/tr>\n<tr>\n<td><span class=\"caps\">NAND<\/span> memo\u00adry business<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\">0.3&nbsp;<\/td>\n<td width=\"7\">%<\/td>\n<\/tr>\n<tr>\n<td><strong>Non-GAAP gross mar\u00adgin<sup>1<\/sup><\/strong><\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\"><strong>56.5&nbsp;<\/strong><\/td>\n<td width=\"7\"><strong>%<\/strong><\/td>\n<\/tr>\n<tr>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"3\" width=\"133\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td><strong><span class=\"caps\">GAAP<\/span> tax&nbsp;rate<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\"><strong>19&nbsp;<\/strong><\/td>\n<td width=\"7\"><strong>%<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Inco\u00adme tax effects<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\">(6)<\/td>\n<td width=\"7\">%<\/td>\n<\/tr>\n<tr>\n<td><strong>Non-GAAP tax&nbsp;rate<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\"><strong>13&nbsp;<\/strong><\/td>\n<td width=\"7\"><strong>%<\/strong><\/td>\n<\/tr>\n<tr>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"3\" width=\"133\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td><strong><span class=\"caps\">GAAP<\/span> ear\u00adnings per share\u2014diluted<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td width=\"11\"><strong>$<\/strong><\/td>\n<td width=\"116\"><strong>4.00&nbsp;<\/strong><\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\">0.35&nbsp;<\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\">0.57&nbsp;<\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>(Gains) los\u00adses from divestiture<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\">(0.24)<\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td><span class=\"caps\">NAND<\/span> memo\u00adry business<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\">(0.39)<\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>Inco\u00adme tax effects<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\" width=\"126\">0.26&nbsp;<\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td><strong>Non-GAAP ear\u00adnings per share\u2014diluted<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td width=\"11\"><strong>$<\/strong><\/td>\n<td width=\"116\"><strong>4.55&nbsp;<\/strong><\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><em><sup>1&nbsp;&nbsp;&nbsp;&nbsp;<\/sup><\/em><em>Our recon\u00adci\u00adlia\u00adti\u00adon of <span class=\"caps\">GAAP<\/span> Out\u00adlook to non-GAAP Out\u00adlook gross mar\u00adgin per\u00adcen\u00adta\u00adge reflects the exclu\u00adsi\u00adon of our <span class=\"caps\">NAND<\/span> memo\u00adry busi\u00adness from net revenue.<\/em><\/p>\n<table width=\"698\">\n<tbody>\n<tr>\n<td><strong>(In Bil\u00adli\u00adons)<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"3\" width=\"133\"><strong>Full-Year 2021<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong><span class=\"caps\">GAAP<\/span> cash from operations<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td width=\"11\"><strong>$<\/strong><\/td>\n<td width=\"116\"><strong>29.7&nbsp;<\/strong><\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>Addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equipment<\/td>\n<td>&nbsp;<\/td>\n<td width=\"11\">$<\/td>\n<td width=\"116\">(19.7)<\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td><strong>Free cash&nbsp;flow<\/strong><\/td>\n<td>&nbsp;<\/td>\n<td width=\"11\"><strong>$<\/strong><\/td>\n<td width=\"116\"><strong>10.0&nbsp;<\/strong><\/td>\n<td width=\"7\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Expects Full-year 2021 Non-GAAP Reve\u00adnue of $72 bil\u00adli\u00adon and Non-GAAP <span class=\"caps\">EPS<\/span> of $4.55<\/p>\n<p><span class=\"caps\">SANTA<\/span> <span class=\"caps\">CLARA<\/span>, Calif., March 23, 2021 \u2014 Intel Cor\u00adpo\u00adra\u00adti\u00adon today pro\u00advi\u00added a finan\u00adcial update and full-year 2021 busi\u00adness outlook.<\/p>\n<p>The com\u00adpa\u00adny expects to exceed its pre\u00advious\u00adly com\u00admu\u00adni\u00adca\u00adted first-quar\u00adter 2021 non-GAAP reve\u00adnue and ear\u00adnings-per-share (<span class=\"caps\">EPS<\/span>) gui\u00addance, dri\u00adven by con\u00adtin\u00adued strong note\u00adbook demand.<\/p>\n<p>For the full year, Intel expects con\u00adtin\u00adued strong <span class=\"caps\">PC<\/span> demand with dou\u00adble-digit <span class=\"caps\">PC<\/span> <span class=\"caps\">TAM<\/span> per\u00adcen\u00adta\u00adge growth. Intel cli\u00adent <span class=\"caps\">CPU<\/span> sup\u00adp\u00adly is also expec\u00adted to be up dou\u00adble-digits year-over-year. Howe\u00adver, <span class=\"caps\">PC<\/span> reve\u00adnue will be tem\u00adpe\u00adred by the indus\u00adtry-wide shorta\u00adge of cri\u00adti\u00adcal third-par\u00adty com\u00adpon\u00adents, such as sub\u00adstra\u00adtes, which the com\u00adpa\u00adny is working with its sup\u00adp\u00adly chain part\u00adners to miti\u00adga\u00adte. Intel\u2019s full-year busi\u00adness out\u00adlook also reflects enti\u00adty list uncer\u00adtain\u00adty. (\u2026) <a class=\"moretag\" href=\"https:\/\/www.planet3dnow.de\/cms\/62103-intel-provides-financial-update-and-full-year-business-outlook\/\">Wei\u00adter\u00adle\u00adsen&nbsp;\u00bb<\/a><\/p>\n","protected":false},"author":593,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"ngg_post_thumbnail":0,"footnotes":""},"categories":[22],"tags":[2541,1004,2540],"class_list":["post-62103","post","type-post","status-publish","format-standard","hentry","category-pressemitteilungen","tag-2541","tag-intel","tag-outlook","entry"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/62103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/users\/593"}],"replies":[{"embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/comments?post=62103"}],"version-history":[{"count":2,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/62103\/revisions"}],"predecessor-version":[{"id":62105,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/62103\/revisions\/62105"}],"wp:attachment":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/media?parent=62103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/categories?post=62103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/tags?post=62103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}