Intel's first-quarter net income is down 41% year-on-year in 2021

[Redaktion]

Intel has announced its first financial report for 2021, which is for the first quarter of this year (1Q2021) that has just ended in March. It shows that the chip giant's net income is US$3.4 billion - 41% less compared to that of 1Q2020. Its earnings are also down by 1% year-on-year (YoY), even though its computing business is up by 8%.

https://www.notebookcheck.net/Intel-s-first-quarter-net-income-is-down-41-year-on-year-in-2021.534535.0.html

[Khato]

Might consider reading the text of the financial results where it's clearly stated why net income is down: First-quarter 2021 GAAP operating margin, net income, tax rate, and EPS results reflect the impact of a charge related to VLSI litigation. Intel strongly disagrees with the jury's verdict in March and intends to appeal.

Accounting for that $2.18 billion charge, net income was only down from $5.7 billion to $5.58 billion.

[the2001experience]

Yeah well, should they manage to overturn the judge's decision, they will simply reflect the financial impact in their next quarterly report, will they not?? The current one's done and dusted, so that is why the journos are reporting on it.

[robin7]

Why don't you mention that the income is down due to losing the patent troll case which will they'll appeal. Also they beat the market expectation and raised the guidance? I guess that doesn't fit the narrative you're trying to make, right?