SAN FRANCISCO, March 31 (Xinhua) -- Intel announced its record revenue for the fourth consecutive year with 2 percent increase from 2018 in its annual report published on Tuesday.
The 2019 annual report said that Intel continued its transformation to a data-centric company in 2019 and experienced strong demand with record revenue of 72 billion U.S. dollars, 48 percent of which was from data-centric businesses.
The company invested 13.4 billion dollars in R&D while reducing spending to 27 percent of revenue. Intel made capital investments of 16.2 billion dollars, generated 33.1 billion dollars of cash from operations and 16.9 billion dollars of free cash flow, and returned 5.6 billion dollars in dividends to stockholders, according to the annual report.
"Our 10nm manufacturing process entered full production as we launched our first products from this advanced technology," Intel said, forecasting that "we are on track to deliver our first 7nm-based product, a discrete GPU, at the end of 2021."
"5G continues to be a strategic priority, and exit from the 5G smartphone modem business is enabling us to increase the focus of our 5G efforts on the opportunity to modernize network and edge infrastructure." the company said.
"Intel at its best creates technologies that have true global impact. The PC, the Internet, and the cloud were fully realized in part because of the power of our technology and the richness of our ecosystem." Bob Swan, CEO of Intel, said in his annual letter, adding that as the COVID-19 outbreak escalated into a pandemic, the company's "number one focus is safeguarding our employees, service partners and communities while continuing to serve our customers."
