Investing.com - Intel (NASDAQ:INTC) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Intel announced earnings per share of $1.09 on revenue of $19.53 billion. Analysts polled by Investing.com anticipated EPS of 90 cents on revenue of $18.33 billion.
"Q4 represented a great finish to a great year. We exceeded top-line quarterly guidance by over $1 billion," said Pat Gelsinger, Intel CEO.
Furthermore, he added that they "delivered the best quarterly and full-year revenue in the company's history."
"Our disciplined focus on execution across technology development, manufacturing, and our traditional and emerging businesses is reflected in our results. We remain committed to driving long-term, sustainable growth as we relentlessly execute our IDM 2.0 strategy."
The company's Q4 revenue was driven by an all-time record quarter for its Data Center Group, stemming from a strong server recovery in enterprise and government. Meanwhile, Intel's Internet of Things Group also experienced a record quarter, due to robust demand on recovery from Covid-19 impacts.
In addition, its Client Computing Group achieved another $10 billion quarter.
Intel announced it has approved a quarterly dividend increase of 5% to $1.46 per share on an annual basis.
Looking ahead, the company sees first quarter 2022 revenue coming in at $18.3 billion, with EPS for the quarter being 80 cents, below the 86 cent consensus.
Intel shares have fallen 3% following the report.
Intel's report follows an earnings beat by Microsoft on Tuesday, which reported EPS of $2.48 on revenue of $51.73 billion, compared to forecasts EPS of $2.31 on revenue of $50.65 billion.