According to reports, Intel today announced the company's 2021 fiscal third quarter earnings report. The report shows that Intel’s third-quarter revenue was US$19.192 billion, an increase of 5% compared to US$18.333 billion in the same period last year; net profit was US$6.823 billion, an increase of 60% compared to US$4.276 billion in the same period last year. Excluding certain one-time items (not in accordance with US GAAP), Intel’s adjusted net profit in the third quarter was US$6.997 billion, an increase of 54% compared to US$4.546 billion in the same period last year.
Intel’s adjusted earnings per share in the third quarter exceeded Wall Street analysts’ previous expectations, but adjusted revenue fell short of analysts’ expectations, and the adjusted earnings per share outlook for the fourth quarter was also lower than analysts’ expectations. In addition, Intel’s customer computing group’s third-quarter net revenue (including chip business revenue) fell year-on-year, and the data center group’s revenue fell short of expectations, causing its after-market share price to plummet by nearly 9%.
Main achievement:

In the fiscal quarter ended September 25, Intel’s net profit was US$6.823 billion, an increase of 60% compared to US$4.276 billion in the same period last year; earnings per share were US$1.67, an increase compared to US$1.02 in the same period last year. 64%. Excluding certain one-off items (not in accordance with US GAAP), Intel’s adjusted net profit for the third quarter was US$6.997 billion, an increase of 54% compared to US$4.546 billion in the same period last year; adjusted earnings per share was 1.71 US dollars, an increase of 59% compared with 1.08 US dollars in the same period last year.

Intel’s third-quarter revenue was US$19.192 billion, an increase of 5% compared to US$18.333 billion in the same period last year. Excluding certain one-off items (not in accordance with US GAAP), Intel’s adjusted revenue in the third quarter was $18.087 billion, an increase of 5% compared to $17.266 billion in the same period last year.

Intel’s adjusted earnings per share in the third quarter exceeded analysts’ previous expectations, but adjusted revenue fell short of analysts’ expectations. According to data provided by the Yahoo Finance Channel, 33 analysts had expected Intel’s adjusted earnings per share in the third quarter to reach $1.11 on average, and 30 analysts had previously expected Intel’s adjusted revenue in the third quarter to reach $18.24 billion.

Intel’s operating profit in the third quarter was US$5.227 billion, compared to US$5.059 billion in the same period last year; operating profit margin was 27.2%, a decrease of 0.4% compared with 27.6% in the same period last year. Excluding certain one-off items (not in accordance with US GAAP), Intel’s adjusted operating profit in the third quarter was US$5.202 billion, compared with US$5.251 billion in the same period last year; the adjusted operating profit margin was 28.8%, Compared with the 30.4% in the same period last year, it decreased by 1.7 percentage points.

Intel’s gross profit in the third quarter was US$10.746 billion, compared to US$9.741 billion in the same period last year; gross profit margin was 56.0%, an increase of 2.9% compared to 53.1% in the same period last year. Excluding certain one-off items (not in accordance with US GAAP), Intel’s adjusted gross profit in the third quarter was US$10.452 billion, compared with US$9.748 billion in the same period last year; adjusted gross profit margin was 57.8%, and Compared with 56.5% in the same period last year, it was an increase of 1.3 percentage points.

Intel’s operating expenses in the third quarter were US$5.519 billion, an increase of 16% compared to US$4.682 billion in the same period last year. Among them, R&D expenditure was 3.803 billion U.S. dollars, compared with 3.272 billion U.S. dollars in the same period last year; marketing, general affairs and administrative expenses were 1.674 billion U.S. dollars, compared with 1.435 billion U.S. dollars in the same period last year; restructuring and other expenditures were 42 million U.S. dollars , Compared to -25 million US dollars in the same period last year. Excluding certain one-time items (not in accordance with US GAAP), Intel’s adjusted operating expenses in the third quarter were US$5.250 billion, an increase of 17% compared to US$4.497 billion in the same period last year.

Intel’s tax rate in the third quarter was 0.5%, a decrease of 14.7 percentage points from 15.2% in the same period last year. Excluding certain one-off items (not in accordance with the US GAAP), Intel’s adjusted tax rate for the third quarter was 0.4%, a 15% decrease from 15.4% in the same period last year.

Performance of each department:

According to the division, the Intel Customer Computing Group’s third-quarter net revenue (including chip business revenue) was 9.664 billion U.S. dollars, compared with 9.847 billion U.S. dollars in the same period last year, down 2% year-on-year; operating profit was 3.317 billion U.S. dollars, This compares to US$3.554 billion in the same period last year. Among them, platform business revenue was 8.954 billion U.S. dollars, compared with 8.762 billion U.S. dollars in the same period last year; other business revenue was 710 million U.S. dollars, compared with 1.085 billion U.S. dollars in the same period last year.

Intel Data Center Group’s third-quarter revenue was US$6.496 billion, compared to US$5.905 billion in the same period last year, while analysts had expected US$6.66 billion; operating profit was US$2.057 billion, compared to 19.03 billion in the same period last year. One hundred million U.S. dollars. Among them, platform business revenue was 5.747 billion U.S. dollars, compared with 5.151 billion U.S. dollars in the same period last year; other business revenue was 749 million U.S. dollars, compared with 754 million U.S. dollars in the same period last year.

Intel’s Internet of Things Group’s third-quarter revenue was US$1.368 billion, compared to US$911 million in the same period last year; operating profit was US$381 million, compared to US$108 million in the same period last year. Among them, IOTG business revenue was 1.042 billion U.S. dollars, compared with 677 million U.S. dollars in the same period last year; Mobileye business revenue was 326 million U.S. dollars, compared with 234 million U.S. dollars in the same period last year.

Intel’s non-variable storage solutions group revenue in the third quarter was US$1.105 billion, compared to US$1.153 billion in the same period last year; operating profit was US$442 million, compared to US$29 million in the same period last year.

Intel's programmable solutions group revenue in the third quarter was US$478 million, compared to US$411 million in the same period last year; operating profit was US$76 million, compared to US$40 million in operating profit in the same period last year.

In the third quarter, Intel’s revenue from all other businesses was US$81 million, compared with US$106 million in the same period last year; operating losses were US$1.046 billion, compared to US$575 million in operating losses in the same period last year.

Performance Outlook:

Intel predicts that the revenue for the fourth quarter of fiscal 2021 will be approximately $19.2 billion, and the adjusted revenue for the fourth quarter of fiscal 2021 will be approximately $18.3 billion, which is slightly higher than analysts’ expectations. The gross profit margin of GAAP is approximately 53.5%; the tax rate in accordance with the US GAAP is approximately 37%, and the tax rate not in accordance with the US GAAP is approximately 13%; the earnings per share is approximately US$0.78, which is not in accordance with the US GA The adjusted earnings per share of the standard was approximately US$0.90, which was not as good as analysts expected. According to data provided by the Yahoo Finance Channel, 30 analysts on average expected Intel’s adjusted revenue in the fourth quarter to reach 18.25 billion U.S. dollars, and 33 analysts on average expected Intel’s adjusted earnings per share in the fourth quarter to reach 1.01 U.S. dollars.

Intel expects revenue for fiscal 2021 to be approximately 77.7 billion U.S. dollars, and its adjusted revenue for fiscal 2021 is approximately 73.5 billion U.S. dollars, which is slightly lower than analysts’ expectations; gross profit margin is approximately 55%, not in accordance with U.S. GAAP. The gross profit margin is about 57%; the tax rate in accordance with the US GAAP is about 15%, and the tax rate not in accordance with the US GAAP is about 9%; the earnings per share is about US$4.50, after adjustments not in accordance with the US GAAP Earnings per share were approximately US$5.28, exceeding analyst expectations; capital expenditures were approximately US$18 billion to US$19 billion; free cash flow was approximately US$12.5 billion. According to data provided by the Yahoo Finance Channel, 36 analysts on average expect Intel’s adjusted revenue for fiscal 2021 to reach 73.6 billion U.S. dollars, and 38 analysts on average expect Intel’s adjusted earnings per share for fiscal 2021 to reach 4.79 U.S. dollars.