Financial Performance - 2023 revenue was $54.2 billion, down $8.8 billion, or 14% from 2022[15] - Gross margin decreased by 3.7 percentage points from 2022, with diluted EPS down $1.54 or 79%[17] - Adjusted free cash flow was $(11.9) billion, indicating a significant cash outflow[15] - Operating income increased by 17% year over year, with an operating margin of 22% in 2023 compared to 18% in 2022[85] - 2023 operating income was $(530) million, down from $1.3 billion in 2022, primarily due to lower server revenue and increased unit costs[95] - Operating loss for 2023 was $482 million, compared to operating income of $1.0 billion in 2022, driven by lower product margins and higher period charges[104] - Revenue for 2023 was $5.8 billion, down $2.6 billion from 2022, as customers reduced purchases to adjust to lower demand across product lines[104] - Mobileye revenue for 2023 was $2.1 billion, up $210 million from 2022, primarily due to higher demand for EyeQ products[113] Revenue Breakdown - CCG revenue decreased 8% due to lower notebook and desktop volume, while DCAI revenue decreased 20% from a softening CPU data center market[15] - NEX revenue decreased 31% as customers reduced purchases to adjust to lower demand[15] - Notebook revenue for 2023 was $17.0 billion, down $1.8 billion (5% volume decrease) from 2022, while desktop revenue was $10.2 billion, down $495 million (9% volume decrease) from 2022[82] - Server volume decreased by 37% from 2022, while server average selling prices (ASPs) increased by 20% due to a lower mix of hyperscale customer-related revenue[95] Research and Development - The company invested $16.0 billion in R&D and made capital investments of $25.8 billion[15] - Research and development expenses for 2023 totaled $16.0 billion, representing 29.6% of revenue[122] - R&D spending decreased by $1.5 billion, or 8%, in 2023 compared to 2022, primarily due to cost-cutting measures and higher incentive-based cash compensation[131] - The company aims to achieve process technology leadership by 2025, planning to deliver five technology nodes in four years[46] Strategic Initiatives - The internal foundry model is expected to reshape operational dynamics and improve efficiencies starting in 2024[19] - The company aims to regain process leadership and establish a leading-edge foundry business through critical capital investments[19] - The IDM 2.0 strategy combines internal manufacturing, strategic foundry capacity, and an Open System Foundry to meet global semiconductor demand[28] - Intel aims to lead in AI by infusing AI into its technologies and supporting GenAI workloads, with a focus on hardware and software platforms[25] Environmental and Social Responsibility - The company is committed to reducing its environmental footprint through efficient use of natural resources and materials[36] - The company has committed to achieving net-zero upstream Scope 3 greenhouse gas emissions by 2050, with a focus on reducing suppliers' greenhouse gas emissions[66] - The company aims to achieve net-zero greenhouse gas emissions in its operations by 2040 and net-zero upstream Scope 3 emissions by 2050, with a 10% reduction target in absolute emissions from a 2019 baseline by 2030[67] - In 2023, the company achieved 99% renewable electricity usage globally, surpassing its target of 95%[68] Workforce and Diversity - As of December 30, 2023, the company employed 124,800 people, focusing on attracting and retaining top talent to support growth ambitions[56] - The company aims to achieve 25% representation of women in senior leadership and 12% representation of underrepresented minorities in US senior leadership by 2030[59] - The company plans to increase global annual spending with diverse suppliers to reach $2.0 billion by 2030, enhancing innovation and value through a diverse supply chain[66] Market and Competitive Landscape - The company faces intense competition from major players like AMD, Qualcomm, and NVIDIA, which could adversely affect financial results and market share[155] - The company is pursuing a strategy to establish Intel Foundry Services (IFS) as a major provider of foundry capacity, facing competition from established players like TSMC and Samsung[156] - The chip industry is undergoing a transformation driven by five superpowers, including AI and pervasive connectivity, impacting semiconductor market growth[118] Financial Health and Investments - Total cash and investments decreased from $28.8 billion in 2022 to $25.0 billion in 2023, while total debt increased from $42.1 billion to $49.3 billion[140] - The company had commitments for capital expenditures of $20.4 billion for 2024, indicating a focus on significant manufacturing expansion[138] - The company expects to incur additional indebtedness and refinance existing debt as part of its IDM 2.0 strategy[193] Risks and Challenges - The company faces significant risks associated with the evolving market for AI products, including competition and the need for third-party software development[173] - Geopolitical tensions, particularly between the US and China, have led to increased tariffs and trade restrictions that affect customer ordering patterns[171] - The company is subject to increasing cybersecurity threats, with attempts to access sensitive data and disrupt operations expected to rise, potentially impacting financial results[181] - The company faces risks related to IP rights claims that could harm its competitive position and revenue[185]

Intel (INTC) reported $15.41 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 9.7%. EPS of $0.54 for the same period compares to $0.10 a year ago.The reported revenue represents a surprise of +1.75% over the Zacks Consensus Estimate of $15.14 billion. With the consensus EPS estimate being $0.44, the EPS surprise was +22.73%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

4th Quarter Earnings Presentation ...

Q4 2023Analyst Estimates for Q4 2023Q4 2022Revenue$15.4 billion$15.17 billion $14.04 billionDiluted Earnings (Loss) Per Share$0.63$0.45 ($0.16)Net Income (Loss)$2.7 billion$960 million(660 million)"In 2024, we remain relentlessly focused on achieving process and product leadership, continuing to build our external foundry business and at-scale global manufacturing, and executing our mission to bring AI everywhere as we drive long-term value for stakeholders," said Intel CEO Pat Gelsinger in a prepared state ...

Do you want to get the latest gaming industry news straight to your inbox? Sign up for our daily and weekly newsletters here. Intel reported that its fourth-quarter revenue was $15.4 billion, up 10% from a year earlier. But the stock sank on the news that Intel was forecasting a lower-than-expected Q1.Overall revenue for the full 2023 year was $54.2 billion, down 14% from a year earlier. Fourth-quarter earnings per share (EPS) were 63 cents a share, while non-GAAP EPS was 54 cents a share. Full-year EPS was ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Intel Corp (NASDAQ: INTC) is trading down in extended hours on Thursday even though it reported strong results for the fourth financial quarter. Intel stock hit on downbeat guidanceCopy link to sectionThe stock is in the red because $INTC issued not-so encouraging guidance for the future. Intel now forecasts $12.2 billion to $13.2 billion in revenue on up to 13 cents of per-share earnings in its current fiscal quarter. Analysts, in comparison, were at $14.5 billion and 33 cents, respectively. David Zinsner ...

Pat Gelsinger, CEO Intel, speaking on CNBC's Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024.Intel shares dropped in extended trading on Thursday after the chipmaker issued an outlook for the first quarter of 2024 that lagged analyst forecasts even as results for the latest quarter beat Wall Street estimates.Here's how Intel did versus LSEG (formerly Refinitiv) consensus expectations for the quarter ended in December:Earnings per share: 54 cents adjusted, vs. 45 cents expectedR ...

Intel Corp.’s upcoming earnings report is expected to be a busy one as the chip maker discusses trends in the personal-computing and data-center markets, as well as the budding opportunity in artificial intelligence. The results, due out Thursday after the closing bell, come as Intel’s stock INTC, +1.11% has enjoyed a sharp 50%-plus move higher since the company last presented its numbers to Wall Street. Read: Missed the boat on AMD’s stock surge? Why this analyst says you’re not too late. That rally “has r ...

JERUSALEM--(BUSINESS WIRE)--Mobileye Global Inc. (Nasdaq: MBLY) (“Mobileye”) today released its financial results for the three months and for the year ended December 30, 2023. “ Our fourth quarter performance was very strong across the board but is understandably overshadowed by the inventory build-up at our customers which will impact our growth in 2024. We believe we have high visibility to the first quarter results, a very meaningful improvement in Q2 revenue and normalization of revenue in the second ...