Financial Data and Key Metrics Changes - First-quarter revenue was $12.7 billion, at the high end of guidance, driven by better-than-expected Xeon sales [33] - Non-GAAP gross margin was 39.2%, approximately three percentage points above guidance due to strong demand for Raptor Lake and improved costs for Meteor Lake [33] - Earnings per share for Q1 was 13 cents, exceeding guidance of breakeven EPS, driven by higher revenue and lower operating expenses [34] - Operating cash flow was $800 million, with growth CapEx of $6.2 billion, resulting in adjusted free cash flow of negative $3.7 billion [35] Business Line Data and Key Metrics Changes - Intel products revenue was $11.8 billion, down 10% sequentially but above expectations [37] - Client Computing Group (CCG) revenue decreased 13% quarter over quarter, below typical seasonality [37] - Data Center and AI (DCAI) revenue was down 5% sequentially, driven by hyperscaler demand for AI servers [38] - Intel Foundry revenue was $4.7 billion, up 8% sequentially due to increased demand for Intel seven wafers [38] Market Data and Key Metrics Changes - The PC total addressable market (TAM) is expected to grow 3% to 5% due to the end of service for Windows 10 and aging installed base [30] - The traditional server market is poised for double-digit CPU core growth this year, supported by delayed infrastructure upgrades [31] - Economic uncertainty is increasing due to shifting trade policies and persistent inflation, prompting a conservative approach for the second half of the year [32] Company Strategy and Development Direction - The company aims to transform its culture and operations to enhance innovation and agility [10] - A focus on building best-in-class products, particularly in AI and data center segments, is emphasized [17][18] - The strategy includes refining the AI approach and building trust with foundry customers [21][23] - The company plans to streamline operations and reduce operating expenses, targeting $17 billion in OpEx for 2025 and $16 billion for 2026 [14][48] Management's Comments on Operating Environment and Future Outlook - Management acknowledges ongoing macroeconomic uncertainties but remains optimistic about growth in key markets [30][32] - The company is focused on stabilizing market share and improving margins despite competitive pressures [111][138] - Future product launches, including Panther Lake, are expected to align with market demands, despite potential economic challenges [127][128] Other Important Information - The company plans to monetize non-core assets and strengthen its balance sheet [27][28] - A four-day-per-week return to office policy is mandated to enhance collaboration and efficiency [15] Q&A Session Summary Question: Balancing internal product roadmap with foundry needs - Management emphasized the importance of flattening the organization to focus on product delivery while improving yield and reliability for internal customers [56][58] Question: Gross margin outlook for 2025 and 2026 - Management indicated that while there are pressures on margins due to product mix and tariffs, improvements are expected in 2026 with better margin products ramping up [61][66] Question: Updates on foundry customers and potential tier-one additions - The priority is to ramp internal customers first, followed by building trust with foundry customers through improved service and reliability [77][78] Question: Assessment of Panther Lake and Clearwater Forest products - Management expressed confidence in Panther Lake's competitive positioning and plans for timely delivery, while Clearwater Forest is set for a later launch [85][86] Question: Seven nanometer capacity constraints - Management explained that demand for older generation products is currently higher due to macroeconomic factors, impacting the ramp of newer products [121][123] Question: Data center market outlook - Management remains optimistic about growth driven by hyperscalers and the upcoming Granite Rapids product, despite macroeconomic concerns [110][111] Question: CapEx outlook for 2025 and 2026 - The company plans to operate with $18 billion in CapEx for 2025, focusing on better returns from existing assets [115][116] Question: Panther Lake launch amid economic uncertainty - Management believes Panther Lake will see strong uptake due to its performance and pricing, despite current market challenges [127][128]

Market Performance - Markets closed higher for the third consecutive session, with the Dow up 486 points (+1.23%), S&P 500 up 108 points (+2.03%), Nasdaq up 457 points (+2.74%), and Russell 2000 up 38 points (+2.00%) [1] - The indexes have increased between +2% to nearly +5% this week, despite initial concerns regarding Jerome Powell's position as Fed Chair [1] Key Stocks - The "Magnificent 7" stocks, including NVIDIA (NVDA), Amazon (AMZN), Tesla (TSLA), and Microsoft (MSFT), all rose over +3% during the session, although they remain down year-to-date, with Microsoft down -8% and Tesla down -35% [2] Economic Reports - Existing Home Sales for March were reported at 4.02 million units, below the anticipated 4.13 million and February's 4.27 million, indicating a continued housing market challenge [3] - Durable Goods Orders for March increased by +9.2%, significantly surpassing the estimated +1.6%, suggesting businesses may be pulling forward orders ahead of tariff announcements [4] - Initial Jobless Claims remained stable at 222K, reflecting a relatively calm labor market despite recent layoffs [4] Q1 Earnings Reports - Alphabet (GOOGL) reported Q1 earnings of $2.81 per share, exceeding the expected $2.02, with revenues of $76.50 billion compared to the $75.53 billion consensus [5] - Alphabet's cloud revenues reached $12.26 billion, up from $9.57 billion year-over-year, and YouTube ad revenue grew by 90 basis points to +8.93% [6] - GOOGL's shares rose +5% in after-market trading following a +2.5% increase prior to the earnings release, although it remains down roughly -10% year-to-date [6] Other Company Earnings - Intel (INTC) reported Q1 earnings of +$0.13 per share, surpassing the expected $0.01, with revenues of $12.7 billion, slightly above the $12.3 billion estimate [7] - Despite outperforming expectations, Intel's shares fell -5% in late trading due to a pullback in next-quarter guidance [7] - Skechers (SKX) reported Q1 earnings of $1.34 per share, beating the expected $1.18, but revenues of $2.41 billion fell short of the $2.44 billion projection, leading to an -8% decline in shares [8]

Core Viewpoint - Intel's stock experienced significant gains due to optimism surrounding potential resolutions in trade tensions, although future performance may face challenges based on recent guidance [2][3]. Group 1: Stock Performance - Intel's stock rose by 4.4% in Thursday's trading, outperforming the S&P 500 and Nasdaq indices, which increased by 2% and 2.7% respectively [1]. - The bullish momentum in the market was driven by hopes of alleviating trade war tensions, particularly with China and India [3]. Group 2: Financial Results - Intel reported Q1 earnings per share (EPS) of $0.13 on sales of $12.67 billion, significantly exceeding Wall Street's expectations of $0.01 EPS on $12.3 billion in sales [4]. - Despite the strong Q1 performance, Intel's guidance for Q2 indicates a projected sales decline to $11.8 billion, approximately 7% lower year-over-year, and a breakeven result for the current quarter [5]. Group 3: Market Sentiment and Future Outlook - The market's positive reaction to Intel's Q1 results may be tempered by concerns that demand was pulled forward due to trade dynamics, leading to potential weakness in future performance [5].

Group 1 - Intel reported quarterly earnings of $0.13 per share, exceeding the Zacks Consensus Estimate of $0.01 per share, but down from $0.18 per share a year ago, representing an earnings surprise of 1,200% [1] - The company posted revenues of $12.67 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.80%, compared to $12.72 billion in the same quarter last year [2] - Intel has surpassed consensus EPS estimates two times over the last four quarters and topped consensus revenue estimates three times during the same period [2] Group 2 - The stock's immediate price movement will depend on management's commentary during the earnings call, with Intel shares up about 2.7% year-to-date, contrasting with the S&P 500's decline of -8.6% [3] - The current consensus EPS estimate for the upcoming quarter is $0.06 on revenues of $12.84 billion, and for the current fiscal year, it is $0.47 on revenues of $53.21 billion [7] - The Zacks Industry Rank indicates that the Semiconductor - General industry is currently in the bottom 34% of over 250 Zacks industries, suggesting potential underperformance compared to higher-ranked industries [8]

intel. 0 11 2 t 2000 1 【 】 t T R R F R . R . R CREET THE RIGHT CAMBER 2 110 11 0 0 0 0 2 1 1 I I D R B R B R B .. - T W S 1 01:11 Lip-Bu Tan Chief Executive Officer Q1 Earnings April 24th, 2025 【 】【 CARBER 2 8 11 1111114 RE REE R B 1 E DE R B R B B . B .. 2011 11:22 11 n be a m the first and 【 有 - TERRET 【 】【 REFERE IT intel. t a product /1 1 1 1 1 1 1 1 1 1 1 1 CD ATHER - 前 第二章 16 1st Quarter Earnings Presentation David Zinsner Executive Vice President and Chief Financial Officer intel. intel. Non-GAAP Fin ...

Intel forecast second-quarter revenue below Wall Street estimates on Thursday, casting a shadow over new CEO Lip-Bu Tan's first round of earnings at the helm, against the backdrop of a raging Sino-U.S. trade war. Intel shares were down 5.8% in extended trading.The dour outlook from Intel could be another source of pessimism for investors who are counting on Tan to turn the chipmaker around after years of missteps have left it struggling to gain a foothold in the booming AI market. GOOGLE PARENT ALPHABET BUY ...

Lip-Bu Tan, the new CEO of Intel, sent out a blunt message to employees saying the company has to reorganize to be more efficient. He said there would be a reduction in employees but he did not announce an exact number of layoffs as expected.Bloomberg reported that Intel is rumored to be preparing to lay off as many as 20% of its workers, which at the end of 2024 was about 108,900 people. A 20% cut would amount to roughly 21,780 jobs lost. And while the changes Tan announced today could result in considerab ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

[Q1 2025 Performance and Strategic Overview](index=1&type=section&id=Intel%20Reports%20First-Quarter%202025%20Financial%20Results) This section covers Intel's Q1 2025 financial results, business unit performance, strategic initiatives, and future outlook [Q1 2025 Financial Highlights](index=1&type=section&id=Q1%202025%20Financial%20Highlights) Intel reported flat Q1 2025 revenue of $12.7 billion, with GAAP net loss widening and non-GAAP net income declining - First-quarter revenue was **$12.7 billion**, flat year-over-year[9](index=9&type=chunk) - The company generated **$0.8 billion** in cash from operations during the first quarter[10](index=10&type=chunk) Q1 2025 Financial Performance (GAAP vs. Non-GAAP) | Metric | Q1 2025 GAAP | Q1 2024 GAAP | Change | Q1 2025 Non-GAAP | Q1 2024 Non-GAAP | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenue ($B)** | $12.7 | $12.7 | flat | - | - | - | | **Gross Margin** | 36.9% | 41.0% | down 4.1 ppts | 39.2% | 45.1% | down 5.9 ppts | | **Operating Margin (Loss)** | (2.4)% | (8.4)% | up 6.0 ppts | 5.4% | 5.7% | down 0.3 ppts | | **Net Income (Loss) ($B)** | $(0.8) | $(0.4) | down 115% | $0.6 | $0.8 | down 24% | | **EPS Diluted** | $(0.19) | $(0.09) | down 111% | $0.13 | $0.18 | down 28% | [Business Unit Performance](index=2&type=section&id=Business%20Unit%20Summary) Q1 2025 Intel Products revenue decreased by 3% to $11.8 billion, with CCG declining while DCAI and Intel Foundry grew - Organizational changes integrated the Network and Edge Group (NEX) into the Client Computing Group (CCG) and Data Center and AI (DCAI) segments[12](index=12&type=chunk) Q1 2025 Revenue by Business Unit | Business Unit | Q1 2025 Revenue | vs. Q1 2024 | | :--- | :--- | :--- | | Client Computing Group (CCG) | $7.6 billion | down 8% | | Data Center and AI (DCAI) | $4.1 billion | up 8% | | **Total Intel Products** | **$11.8 billion** | **down 3%** | | Intel Foundry | $4.7 billion | up 7% | | All Other | $0.9 billion | up 47% | [Strategic Initiatives and Business Highlights](index=1&type=section&id=Business%20Highlights) Intel is reducing operating expenses and capital expenditures, while advancing key product launches and divestitures - The company is reducing its non-GAAP operating expense target to approximately **$17 billion** in 2025 and targeting **$16 billion** in 2026[7](index=7&type=chunk) - Gross capital expenditures target for 2025 has been reduced to **$18 billion** from a previous target of **$20 billion**[8](index=8&type=chunk) - Key business highlights include the launch of new Intel® Core™ Ultra 200V series and Intel® Xeon® 6 processors, the expected ramp of Intel 18A process in H2 2025, the agreement to sell a 51% stake in the Altera® business to Silver Lake, and the completed final sale of its NAND business to SK hynix[15](index=15&type=chunk) [Q2 2025 Business Outlook](index=3&type=section&id=Business%20Outlook) Intel forecasts Q2 2025 revenue between $11.2 billion and $12.4 billion, reflecting elevated macroeconomic uncertainty - The company's outlook reflects elevated uncertainty across the industry due to the current macro environment[5](index=5&type=chunk) Q2 2025 Guidance | Metric | GAAP Outlook | Non-GAAP Outlook | | :--- | :--- | :--- | | **Revenue** | $11.2B - $12.4B | - | | **Gross Margin** | 34.3% | 36.5% | | **EPS - Diluted** | $(0.32) | $0.00 | [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) This section presents Intel's Q1 2025 consolidated statements of operations, balance sheets, and cash flows [Statement of Operations](index=6&type=section&id=Consolidated%20Condensed%20Statements%20of%20Operations%20and%20Other%20Information) Q1 2025 net revenue slightly decreased to $12.67 billion, gross margin fell, operating loss improved, but net loss widened Q1 2025 Statement of Operations Highlights (in Millions) | Line Item | Mar 29, 2025 | Mar 30, 2024 | | :--- | :--- | :--- | | **Net Revenue** | $12,667 | $12,724 | | **Gross Margin** | $4,672 | $5,217 | | **Operating Income (Loss)** | $(301) | $(1,069) | | **Net Income (Loss) Attributable to Intel** | $(821) | $(381) | | **Diluted EPS** | $(0.19) | $(0.09) | [Balance Sheet](index=7&type=section&id=Consolidated%20Condensed%20Balance%20Sheets) As of March 29, 2025, Intel's total assets were $192.2 billion, with cash increasing, liabilities at $85.8 billion, and equity rising Balance Sheet Highlights (in Millions) | Account | Mar 29, 2025 | Dec 28, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $8,947 | $8,249 | | Total current assets | $42,134 | $47,324 | | **Total Assets** | **$192,242** | **$196,485** | | Total current liabilities | $32,174 | $35,666 | | **Total Liabilities** | **$85,829** | **$91,453** | | **Total Stockholders' Equity** | **$106,413** | **$105,032** | [Statement of Cash Flows](index=8&type=section&id=Consolidated%20Condensed%20Statements%20of%20Cash%20Flows) In Q1 2025, Intel generated $813 million in cash from operations, a turnaround from prior year, with a net increase in cash Q1 2025 Cash Flow Summary (in Millions) | Cash Flow Activity | Three Months Ended Mar 29, 2025 | Three Months Ended Mar 30, 2024 | | :--- | :--- | :--- | | Net cash from operating activities | $813 | $(1,223) | | Net cash from investing activities | $81 | $(2,563) | | Net cash from financing activities | $(196) | $3,630 | | **Net increase (decrease) in cash** | **$698** | **$(156)** | [Supplemental Information and Non-GAAP Reconciliations](index=9&type=section&id=Supplemental%20Information) This section provides supplemental operating segment results and reconciliations of GAAP to non-GAAP financial measures [Supplemental Operating Segment Results](index=9&type=section&id=Supplemental%20Operating%20Segment%20Results) In Q1 2025, Intel Products generated $2.9 billion in operating income, while Intel Foundry recorded an operating loss of $2.3 billion Q1 2025 Operating Income (Loss) by Segment (in Millions) | Segment | Q1 2025 Revenue | Q1 2025 Operating Income (Loss) | Q1 2024 Operating Income (Loss) | | :--- | :--- | :--- | :--- | | CCG | $7,629 | $2,361 | $2,822 | | DCAI | $4,126 | $575 | $417 | | **Total Intel Products** | **$11,755** | **$2,936** | **$3,239** | | Intel Foundry | $4,667 | $(2,320) | $(2,441) | [Non-GAAP Measures and Reconciliations](index=10&type=section&id=Explanation%20of%20Non-GAAP%20Measures) Intel utilizes non-GAAP measures to reconcile Q1 2025 GAAP EPS loss to non-GAAP EPS profit and provides forward-looking estimates - Non-GAAP measures exclude items such as amortization of acquisition-related intangibles, share-based compensation, restructuring charges, and gains/losses on equity investments to facilitate performance comparison[35](index=35&type=chunk)[36](index=36&type=chunk) Reconciliation of Q1 2025 GAAP to Non-GAAP EPS | Description | Per Share Amount | | :--- | :--- | | **GAAP EPS - Diluted** | **$(0.19)** | | Acquisition-related adjustments | $0.03 | | Share-based compensation | $0.16 | | Restructuring and other charges | $0.04 | | (Gains) losses on equity investments, net | $0.03 | | (Gains) losses from divestiture | $0.02 | | Other adjustments & tax effects | $0.04 | | **Non-GAAP EPS - Diluted** | **$0.13** | Reconciliation of Forward-Looking Operating Expenses (in Billions) | (In Billions) | Full-Year 2025 (Approx.) | Full-Year 2026 (Approx.) | | :--- | :--- | :--- | | GAAP R&D and MG&A | $19.9 | $19.0 | | Adjustments (Acquisition, Share-based comp.) | $(2.9) | $(3.0) | | **Non-GAAP R&D and MG&A** | **$17.0** | **$16.0** |

Intel Corporation INTC will release earnings results for the first quarter, after the closing bell on Thursday, April 24.Analysts expect the Santa Clara, California-based company to report quarterly earnings at $0 per share, down from 18 cents per share in the year-ago period. Intel projects to report quarterly revenue at $12.30 billion, compared to $12.72 billion a year earlier, according to data from Benzinga Pro.Intel reportedly plans to reduce more than 20% of its workforce as part of a major overhaul u ...