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Jul 01, 2023
Intel Q2 2023 Earnings Report
Intel's Q2 2023 financial results exceeded expectations, driven by strategic execution and progress in foundry business and product roadmaps.
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.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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