Intel Q2 2023 Earnings Report
Key Takeaways
Intel reported Q2 2023 revenue of $12.9 billion, a 15% decrease year-over-year. The company's EPS was $0.35, with a non-GAAP EPS of $0.13. These results exceeded the high end of guidance, driven by strong execution and progress towards cost savings.
Second-quarter revenue was $12.9 billion, down 15% year over year.
Second-quarter earnings per share (EPS) attributable to Intel was $0.35; non-GAAP EPS attributable to Intel was $0.13.
Company continues to execute strategy with momentum across process and product technology and foundry.
Forecasting third-quarter 2023 revenue of approximately $12.9 billion to $13.9 billion.
Intel
Intel
Intel Revenue by Segment
Forward Guidance
Intel forecasts third-quarter 2023 revenue of approximately $12.9 billion to $13.9 billion and expects third-quarter EPS attributable to Intel of $0.04; non-GAAP EPS attributable to Intel of $0.20.
Positive Outlook
- Expecting revenue between $12.9 billion and $13.9 billion.
- Gross margin approximately 39.1%.
- Non-GAAP gross margin approximately 43.0%.
- Expecting EPS attributable to Intel of $0.04.
- Non-GAAP EPS attributable to Intel of $0.20.
Challenges Ahead
- Actual results may differ materially from Intel’s Business Outlook.
- Changes in demand for our products.
- Changes in product mix.
- The complexity and fixed cost nature of our manufacturing operations.
- The high level of competition and rapid technological change in our industry.
Revenue & Expenses
Visualization of income flow from segment revenue to net income