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Intel Corporation 2200 Mission College Blvd. Santa Clara , CA 95054-1549 intel Ⓡ News Release Intel Reports First - Quarter 2021 Financial Results News Summary . ■ ■ First - quarter GAAP revenue of $ 19.7 billion , down 1 percent year over year ( YoY ) , and non - GAAP revenue of $ 18.6 billion , flat YoY , which exceeded January guidance by $ 1.1 billion . First - quarter GAAP earnings - per - share ( EPS ) was $ 0.82 ; non - GAAP EPS was $ 1.39 , which exceeded January guidance by $ 0.29 . In Q1 , Intel CEO Pat Gelsinger unveiled the company's new , differentiated IDM 2.0 strategy for manufacturing , innovation and product leadership . Raising full - year 2021 guidance . Now expecting GAAP revenue of $ 77.0 billion and non - GAAP revenue of $ 72.5 billion ; GAAP EPS of $ 4.00 and non - GAAP EPS of $ 4.60.1 SANTA CLARA , Calif . , April 22 , 2021 -- Intel Corporation today reported first - quarter 2021 financial results . " Intel delivered strong first - quarter results driven by exceptional demand for our leadership products and outstanding execution by our team . The response to our new IDM 2.0 strategy has been extraordinary , our product roadmap is gaining momentum , and we're rapidly progressing our plans with re - invigorated focus on innovation and execution , " said Pat Gelsinger , Intel CEO . " This is a pivotal year for Intel . We are setting our strategic foundation and investing to accelerate our trajectory and capitalize on the explosive growth in semiconductors that power our increasingly digital world . " Q1 2021 Financial Highlights 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 . Q1 2021 Revenue ( $ B ) $ 19.7 GAAP Q1 2020 $ 19.8 Gross Margin 55.2 % 60.6 % vs. Q1 2020 down 1 % down 5.4 ppt Q1 2021 $ 18.6 58.4 % Non - GAAP Q1 2020 $ 18.6 64.5 % vs. Q1 2020 flat down 6.1 ppt R & D and MG & A ( $ B ) $ 5.0 $ 4.8 up 3 % $ 4.8 $ 4.6 Operating Margin 18.8 % 35.5 % down 16.7 ppt 32.8 % 39.5 % up 2 % down 6.7 ppt Tax Rate 14.0 % 14.4 % down 0.5 ppt 13.7 % 13.7 % flat Net Income ( $ B ) $ 3.4 $ 5.7 down 41 % $ 5.7 $ 6.1 down 6 % Earnings Per Share $ 0.82 $ 1.31 down 37 % $ 1.39 $ 1.41 down 1 % In the first quarter , the company generated $ 5.5 billion in cash from operations , paid dividends of $ 1.4 billion , and used $ 2.3 billion to repurchase stock . 1 Non - GAAP results and business outlook exclude the NAND memory business , which is subject to a pending divestiture . Year - over - year comparisons also exclude NAND from 2020 results . Full reconciliations between GAAP and non - GAAP measures are provided below .