Exhibit 11.1 INTEL CORPORATION COMPUTATION OF EARNINGS PER SHARE (in millions, except per share amounts) Three Months Ended Nine Months Ended Sept. 30, Oct. 1, Sept. 30, Oct. 1, 1995 1994 1995 1994 ** PRIMARY SHARES CALCULATION Reconciliation of weighted average number of shares outstanding to amount used in primary earnings per share computation: Weighted average number of shares outstanding 822 * 826 * 826 832 Add shares issuable from assumed exercise of options and warrants 67 * 42 * 57 44 ------ ------ ------ ------ Weighted average number of shares outstanding as adjusted 889 * 868 * 883 876 ====== ====== ====== ====== FULLY DILUTED SHARES CALCULATION Reconciliation of weighted average number of shares outstanding to amount used in fully diluted earnings per share computation: Weighted average number of shares outstanding 822 826 826 832 Add shares issuable from assumed exercise of options and warrants 67 42 61 44 ------ ------ ------ ------ Weighted average number of shares outstanding as adjusted 889 868 887 876 ====== ====== ====== ====== NET INCOME $ 931 $ 659 $2,699 $1,916 ====== ====== ====== ====== PRIMARY EARNINGS PER SHARE $ 1.05 $ .76 $ 3.06 $ 2.19 ====== ====== ====== ====== (1) FULLY DILUTED EARNINGS PER SHARE $ 1.05 $ .76 $ 3.04 $ 2.19 ====== ====== ====== ====== * Per Q3 1995 earnings press release ** 1994 amounts per Q3 '94 10Q, adjusted for the 6/95 stock split (x2)