Workflow
至强 6 处理器
icon
Search documents
英特尔(INTC)FY25Q3业绩点评及业绩说明会纪要:营收增长&毛利率提升&持续的成本管控推动25Q3业绩超预期
Huachuang Securities· 2025-10-27 04:10
Group 1 - The core viewpoint of the report highlights that revenue growth, margin improvement, and ongoing cost control are the main factors driving Intel's earnings per share exceeding expectations in Q3 FY25 [1][2] - In Q3 FY25, Intel achieved revenue of $13.7 billion, up 6% quarter-over-quarter (QoQ) and 3% year-over-year (YoY), surpassing both the upper guidance of $13.6 billion and analyst expectations of $12.7 billion [2][9] - The adjusted net profit for Q3 FY25 was $1 billion, with an adjusted gross margin of 40%, reflecting a QoQ increase of 10.3 percentage points and a YoY increase of 22 percentage points [2][9] Group 2 - Intel's product revenue in Q3 FY25 was $12.7 billion, with a YoY increase of 3% and a QoQ increase of 7.6%, driven by strong performance in both client computing and data center segments [3][11] - The client computing segment (CCG) generated $8.5 billion in revenue, up 7.6% QoQ and 5% YoY, benefiting from seasonal demand and product pricing optimization [12][13] - The data center and artificial intelligence segment (DCAI) reported revenue of $4.1 billion, up 5% QoQ but down 1% YoY, with strong demand for AI server CPUs [13] Group 3 - Intel's foundry services generated $4.2 billion in revenue in Q3 FY25, down 4.5% QoQ but up 3% YoY, with significant progress in 10nm and 7nm process technologies [14] - Other business segments reported total revenue of $1 billion, down 5.7% QoQ but up 3% YoY, primarily driven by Mobileye, Altera, and IMS [18] Group 4 - For Q4 FY25, Intel forecasts revenue in the range of $12.8 to $13.8 billion, with an adjusted gross margin of approximately 36.5% and earnings per share of $0.08 [5][19] - The client computing segment is expected to see a slight decline in revenue, while the data center and AI segment is projected to experience strong growth [21][22]