Intel Forecasts Another Record Year; Raises Dividend - Quick Facts

(RTTNews) - Intel Corp. (INTC) announced the company expects record 2019 non-GAAP revenue of approximately $71.5 billion and non-GAAP earnings per share of $4.60. The company targets first-quarter non-GAAP revenue of approximately $16 billion; and non-GAAP earnings per share of $0.87.

Fourth-quarter earnings per share was $1.28 on a non-GAAP basis, up 18% from prior year. Non-GAAP revenue was $18.7 billion, up 9 percent year-over-year. The PC-centric business (CCG) was up 10 percent in the fourth quarter. Collectively, Intel's data-centric businesses grew 9 percent. Internet of Things Group (IOTG) revenue declined 7 percent. Excluding Wind River, which Intel divested in the second quarter, fourth-quarter IOTG revenue was up 4 percent, for the quarter.

In the fourth quarter, the company generated approximately $6.9 billion in cash from operations, paid dividends of $1.4 billion and used $2.3 billion to repurchase 51 million shares of stock.

Bob Swan, Intel CFO and Interim CEO, stated: "In the fourth quarter, we grew revenue, expanded earnings and previewed new 10nm-based products that position Intel to compete and win going forward. Looking ahead, we are forecasting another record year and raising the dividend based on our view that the explosive growth of data will drive continued demand for Intel products."

The company also announced that its board has approved a five percent increase in its cash dividend to $1.26 per-share on an annual basis. The board declared a quarterly dividend of $0.315 per-share on the company's common stock, which will be payable on March 1 to shareholders of record on February 7.