Its non-GAAP quarter revenue of 18.4 billion dollars, down 1 percent year over year, exceeded January guidance, the company said.
First-quarter GAAP earnings per share (EPS) was 1.98 dollars. Non-GAAP EPS was 0.87 dollars, which exceeded January guidance by 0.07 dollars.
The company's GAAP quarter net income reached 8.1 billion dollars from 3.4 billion dollars year over year, up 141 percent. Its non-GAAP quarter net income was 3.6 billion dollars from 5.5 billion dollars a year ago, down 35 percent.
"Q1 was a strong start to the year, exceeding expectations on both the top- and bottom-line. With a 1 trillion dollars market opportunity ahead of us, we remain laser-focused on our IDM 2.0 strategy," said Pat Gelsinger, Intel CEO.
"We executed well against that strategy in Q1, delivering key product and technology milestones and announcing plans to expand our manufacturing capacity in both the U.S. and Europe to meet the continued demand for semiconductors and drive a more balanced, resilient global supply chain," he added.
"Intel delivered strong first-quarter financial results, and we are reaffirming our full-year revenue guidance," said David Zinsner, Intel CFO. "We remain committed to the financial framework we laid out at Intel's Investor Meeting, including diligently managing the business to drive both growth and profitability and create shareholder value."
In Intel's guidance for the second quarter and full year, the revenues for the second quarter of 2022 and the full year of 2022 will be 18 billion dollars and 76 billion dollars respectively.
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