Chipmaker Intel has reported its ‘best year ever’ revenue earning season despite the ongoing chip storage. The semiconductor company made the most cash for its 2021 fourth quarter and full fiscal year.

Its fourth-quarter revenue stood at $19.5 billion and $74.7 billion respectively. Despite the record revenue, profits for the reported period was poor. Intel’s profits fell 21% for the quarter and 5% for the fiscal year. These results in a $4.6 billion quarterly windfall and a whopping $19.9 billion for the year.

Intel’s laptop business was also down, as its revenue fell to 16% year on year. This is largely due to its Client Computing Group’s revenue shrinking 7% year on year. Despite all of this, the company has been consistently growing its business over the past 5 years.

During its earnings call, the CEO Pat Gelsinger gave some insights into how the chip shortage affects the business. “Shortages in substrates, components and foundry silicon has limited our customers’ ability to ship and finish systems across the industry.”

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“This was most acutely felt in the client market, particularly in notebooks, but constraints have widely impacted other markets, including automotive, the internet of things, and the data center.”

Gelsinger doesn’t think it will end soon, “As we predicted, these ecosystem constraints are expected to persist throughout 2022 and into 2023 with incremental improvements over this period,” he said.

While expressing some optimism, he says that Intel has “started to see inventories return to pre-pandemic levels.” Its laptop processor the “Tiger Lake has shipped over 100 million units, making it the fastest ramping notebook in our history.”

While its profit margins were underwhelming low, shareholders with the business consistently grew its revenue over the past 5 years. Intel is spending billions of dollars to construct more factories so it doesn’t experience this chip shortage in the future.

Intel is facing fierce competition from other chip manufacturers such as Apple, AMD and even Qualcomm. Both the newest laptop chips from Apple and AMD have beaten Intel’s for speed and performance. Its recent development is the new Ohio factory which should begin chip production in 2024.

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