Intel had its best financial year ever in 2021

Even the chip shortage didn't slow the tech giant down.

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You might've thought that the ongoing chip shortage would've made for a financially challenging year for Intel, as it struggled to meet the demands of an increasingly semiconductor-powered world. But, that would be incorrect, as the recent Q4 2021 earnings document (as reported on by The Verge) showed that the tech company saw its "best year ever" in 2021.

In the document, it's shown that Intel clocked in a quarterly revenue of $19.5 billion and that its total 2021 revenue reached the monster number of $74.4 billion (you could buy an entire Activision Blizzard for that!). While this is impressive, it should be noted that net income was actually down by 21% over the quarter (accounting for $4.6 billion) and 5% year-over-year ($19.9 billion).

As for the reason for this dip, Intel's CEO, Pat Gelsinger mentioned in an earnings call after the financial report was shared that "shortages in substrates, components and foundry silicon has limited our customers' ability to ship and finish systems across the industry." This has itself caused the most problems in "the client market, particularly in notebooks, but constraints have widely impacted other markets, including automotive, the internet of things, and the data center."

While Gelsinger in the call does once again mention that the issues posed by the chip shortage are expected to continue through 2022 and 2023, it was also noted that inventories are beginning to "return to pre-pandemic levels." Hopefully this will mean it will start becoming easier to get new hardware, especially with Intel set to release the Xe Alchemist GPU soon.

Intel had its best financial year ever in 2021

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