Intel Q3 2024 Earnings Report
Key Takeaways
Intel reported a third-quarter revenue of $13.3 billion. GAAP EPS was $(3.88), impacted by significant impairment and restructuring charges, while non-GAAP EPS was $(0.46). The company is progressing towards its $10 billion cost reduction goal by 2025 and forecasts Q4 2024 revenue between $13.3 billion and $14.3 billion.
Third-quarter revenue reached $13.3 billion.
GAAP EPS attributable to Intel was $(3.88), and non-GAAP EPS attributable to Intel was $(0.46).
The GAAP EPS was negatively impacted by $15.9 billion in impairment charges and $2.8 billion in restructuring charges.
The company is making substantial progress on its plan to cut costs by $10 billion in 2025.
Intel
Intel
Intel Revenue by Segment
Forward Guidance
Intel expects Q4 2024 revenue to be between $13.3 billion and $14.3 billion, with GAAP EPS of $(0.24) and non-GAAP EPS of $0.12.
Positive Outlook
- Gross Margin 39.5%
- Revenue $13.3-14.3 billion
- Earnings (Loss) Per Share Attributable to Intel—Diluted $0.12
Challenges Ahead
- Gross Margin 36.5%
- Tax Rate (50)%
- Earnings (Loss) Per Share Attributable to Intel—Diluted $(0.24)
Revenue & Expenses
Visualization of income flow from segment revenue to net income