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Oct 01, 2022
Intel Q3 2022 Earnings Report
Intel's Q3 2022 financial results were released, showing a decrease in revenue compared to the previous year, but significant progress was made in product and process execution.
Key Takeaways
Intel reported a 20% year-over-year decrease in GAAP revenue, reaching $15.3 billion. The company's GAAP earnings per share (EPS) was $0.25, while non-GAAP EPS was $0.59. Despite the revenue decline, Intel is focused on cost reductions and efficiency gains, aiming for $3 billion in cost reductions in 2023 and $8 billion to $10 billion in annualized cost reductions by the end of 2025.
Third-quarter GAAP revenue was $15.3 billion, a 20% decrease year-over-year.
GAAP restructuring charges of $664 million were incurred, reflecting initial cost reduction actions.
The company aims to drive $3 billion in cost reductions in 2023, with a target of $8 billion to $10 billion in annualized cost reductions by the end of 2025.
GAAP earnings per share (EPS) was $0.25; non-GAAP EPS was $0.59.
Revenue by Segment
Forward Guidance
Intel provided guidance for Q4 2022, expecting revenue between $14 billion and $15 billion, with a GAAP gross margin of 41.4% and a non-GAAP gross margin of 45.0%. The company anticipates a GAAP earnings per share loss of $(0.10) and a non-GAAP earnings per share of $0.20.
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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