Intel Corporation - Third-Quarter 2020 Financial Results

• Third-quarter revenue of $18.3 billion was above July expectations, down 4 percent year-over-year (YoY). Data-centric revenue* declined 10 percent while PC-centric revenue was better than expected, up 1 percent YoY.
• Third-quarter GAAP earnings-per-share (EPS) was $1.02, down 25 percent YoY; non-GAAP EPS of $1.11 was down 22 percent YoY, above July expectations.
• Year-to-date, generated $25.5 billion cash from operations and $15.1 billion of free cash flow and paid dividends of $4.2 billion.
• Announced agreement to sell Intel NAND memory and storage business to SK hynix for $9.0 billion.1
• Raising full-year revenue and earnings expectations from July guidance. Expecting 5 percent top-line growth YoY in 2020 with full-year revenue of $75.3 billion; GAAP EPS of $4.55 and non-GAAP EPS of $4.90.

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