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Sep 28, 2024
Intel Q3 2024 Earnings Report
Intel's Q3 2024 earnings were impacted by restructuring and impairment charges, but the company is making progress on its cost reduction plan and seeing strong interest in its Intel 18A foundry technology.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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