Jan 21 (Reuters) - Intel Corp on Thursday forecast first-quarter revenue and profit above Wall Street expectations, with sales expected to decline on a yearly basis as it loses share to rivals despite a pandemic-fueled boom in PC and data center chip demand.

The chipmaker said it expects adjusted sales of $17.5 billion and adjusted earnings per share of $1.10, compared with analysts' average estimates of $16.06 billion and 93 cents per share, according to IBES data from Refinitiv.

The company reported fourth-quarter revenue of $20 billion, beating estimates of $17.5 billion. (Reporting by Stephen Nellis in San Francisco and Ayanti Bera in Bengaluru; Editing by Sriraj Kalluvila)