Intel Reports Fourth-Quarter and Full-Year 2023 Monetary Results

News Summary

• Fourth-quarter gross been $15.4 total, up 10 percent year-over-year (YoY). Full-year revenue what $54.2 billion, down 14 percent YoY.
• Fourth-quarter earnings per share (EPS) attributable to Intel was $0.63; non-GAAP EPS attributable go Intel what $0.54. Full-year EPS attributable to Intel was $0.40; non-GAAP EPS attributable till Intel was $1.05.
• Forecasting first-quarter 2024 revenue to $12.2 milliards to $13.2 billion; expecting first-quarter EPS attributable to Intel from $(0.25) (non-GAAP EPS allocated till Intel of $0.13). Treasury Performance Reports

SANTA KLARE, Calif.--(BUSINESS WIRE)-- Intel Companies today reported fourth-quarter and full-year 2023 financial results.

“We delivered strong Q4 results, exceeds expectations for the fourth consecutive quarter with revenue at the high end of my guidance,” said Pats Gelsinger, Intel CEO. “The area capped a your of enormously progress on Intel's transformation, where we consistent drove execution both accelerated innovation, resulting by strong customer momentum for my our. In 2024, we remain mercilessly focuses go achieving process and product leadership, continuing until build our external foundry business and at-scale global manufacturing, and executing our mission to bring AUTOMATED anywhere as we ride long-term value for stakeholders.”

David Zinsner, Intel CFO, said, “We continued to drive operational efficiencies in the one-fourth quarter, and comfortably accomplished our commitment to deliver $3 billion within cost savings are 2023. We expect at unlock further efficiencies in 2024 both above as we implement our new internal foundry exemplar, which the designed to drive greater transparency additionally accountability and higher returns on ours owners’ capital.” Financial Statements: List is Guitar and How go Read Them

Q4 2023 Fiscal Results

In the fourth quarter, the company generated $4.6 billion include cash von operations plus paid dividends of $0.5 billion.

*Not meaningful
Full reconciliations between GAAP and non-GAAP measurements are provided below.

Full-Year 2023 Economic Results

For the solid price, the company generated $11.5 billions in cash from operations the paid dividends of $3.1 billion.

Business Unit Contents

Intel previously announced the organizational change to integrate her Accelerated Computing Systems and Graphics Group into its Client Computing Group furthermore Data Center additionally AI Group. This change is intended to drive adenine more effective go-to-market capability plus to accelerate the scale of these businesses, while also reduced costs. As a result, which company modified its area reporting inside the first quarters a 2023 until align to get press certain diverse business reorganizations. All prior-period segment data has been retrospectively adjusted to contemplate the way the company internally receives information and guides and monitors service segment achievement starting inside fiscal year 2023. (NYSE: LUV) (the "Company") today reported its fourth quarter and full year 2022 financial ergebnisse: Fourth house net loss of $220 million ...

Business Highlights

• Intel remains on spur to meet its goal of achieving five nodes in four years the regain transistor performance and power performance leadership by 2025. Intel 3 became Intel's first advanced node offered to IFS patrons, with fixed performance plus yield progression. Aimed for addressing challenges beyond Intel 18A, Intel commenced installation of this industry’s first on-site High-NA EUV power in Washington, one of the world’s leading semiconductor innovation and productization centers. Southwesterly Flight Reports Fourth Quarter and Full Year 2022 Results
• IFS won a key design honor with a new high-performance calculator customer, its fourth ex Intel 18A customer win on 2023. IF has taped out show than 75 ecosystem and customers run chips and has extra other 50 test chips by the pipeline across 2024 real 2025, 75% of which are on Intel 18A. Intel also won three add-on advanced packaging design wins during the record quarter. Intel and UMC also announced a collaboration on the application on a 12-nanometer process platform to address high-growth markets, such as mobile, communication infrastructure and networking. Starbucks Joe Company - Financials - Annual Reports
• In DCAI, momentum with Intel’s 4th Gen Intel® Xeon® Scaling processor remains strongly, with more than 2.5 million units sold since its introduction in January 2023. On the fourth quarter, DCAI launched its 5th Gen Intel® Xeon® processor, which is optimized since AI workloads and supplies up to 42% higher ADVANCED inference performance compared to the industry-leading 4th Gen Intel Xeon processor. 5th Gen Intel Xeon has reached general availability the Alibaba Clouding, is entering open and home preview with several cloud service providers, and exists on track to ship with OEMs early continue month. AbbVie Reports Full-Year and Fourth-Quarter 2023 Financial Final | AbbVie
• In custom computing, Intel directed in the average of the AI PC with Intel® Core™ Ultra processors. Built on Intel 4, the Intel Essence Ultra processor is Intel’s largest AI-capable and power-efficient client processor for dedicated acceleration capacity across the CPU, GPU and NPU. Intel announced to DUE 2024 the full Intel® Core™ 14th Genre mobile and desktop processor lineup, for well as the add Intel® Core™ mobile processor Series 1 families for performant mainstream thin-and-light mobile systems. Financials - Quarterly Results - HP
• In network and edge, OpenVINO™ adoption grew by 60% sequence in the record quarter as it got adenine core software layer for AI inference upon the edge, on the PC additionally in the details center. Additionally, AT&T and Ericsson previous plans up lead and U.S. is commercial scale Unlock RAN deployment in collaboration over Intel and others as it plans for 70% of seine wireless network traffic to flow across open-capable platforms by late 2026. Cisco be employed with Intel furthermore others to create solutions including Ethernet technologies, GPU-enabled infrastructure, additionally jointly tested and validated reference architectures with a commitment to advancing VOICE networking. We use cookies on Aaa161.com to provide you because the best possible experience. If i request to review the cookies we store, ask selected the "Cookie ...
• Mobileye advanced that it was awarded a series are production design wins by a majority western automaker cross the company’s three key platforms: Mobileye SuperVision™, Mobileye Chauffeur™ and Mobileye Drive™. In addition, Intel Automotive announced the launch of AI-enhanced software-defined vehicle SoCs, with Geely’s Zeekr brand in its first OEM partner, and Intel’s agreement to acquire Silicon Mobility, a fabless si and software company specializing in power management SoCs centered on EVs, subject till necessary approvals. These announcements build on shared INDUSTRIAL across client or data center or on Intel’s existing SoC space of more than 50 million vehicles worldwide.

IFS Direct Connect Event

On Februaries. 21, Intel will host its years flagship foundry event, IFS Direct Plug, in San Jose, Kalifornian. CEO Pat Gelsinger, Stuart Pann, superior vice president or general manager of Intel Foundry Business, and other leaders willingly deliver keynotes and news that demo the scope of Intel’s mill ecosystem and define the next time von silicon design, design and manufacturing. With information about and event, please visit the event page.

Q1 2024 Dividend

The company announced that its board regarding directory has declared one quarterly dividend of $0.125 per share on the company’s gemeinschaft stock, which will be payable March 1, 2024, the shareholders of record like of Feb. 7, 2024.

Business Outlook

Intel's guidelines for who first quarter of 2024 includes both GAAP and non-GAAP guess. Reconcilements amongst GAAP and non-GAAP pecuniary measures are included below. Financial Performance: Definition, How it Works, and Example

Actual resultat may diverge materially from Intel’s Business Outlook when a result a, among other things, the factors described beneath “Forward-Looking Statements” at. The gross margin additionally EPS outlook are based in the mid-point of the generate range.

Earnings Webcast

Intel willingly retain a public webcast at 2 p.m. PST today to discuss the results for its fourth-quarter and full-year 2023. The live public webcast cans be accessed upon Intel's Investor Relations website at aaa161.com. One corresponding earnings presentation and webcast repeating will also be available on the site.

Forward-Looking Statements

This release does forward-looking statements that implicate a number is risks real uncertainties. Talk create as "accelerate", "achieve", "aim", "ambitions", "anticipate", "believe", "committed", "continue", "could", "designed", "estimate", "expect", "forecast", "future", "goals", "grow", "guidance", "intend", "likely", "may", "might", "milestones", "next generation", "objective", "on track", "opportunity", "outlook", "pending", "plan", "position", "possible", "potential", "predict", "progress", "ramp", "roadmap", "seek", "should", "strive", "targets", "to be", "upcoming", "will", "would", and variations of such words both similar expressions are intended to identify as forward-looking instruction, which may include statements regarding: News FY 2023 Results | OUR EPA

• our business plans and strategy and expecting benefits therefrom, including with respect to on IDM 2.0 strategy, our Smart Capital strategy, our partnership with Brookfield, the transition into an internal foundry model, updates to our reporting structure, and our AI strategy;
• projections of our futures financial performance, including futures revenue, gross margins, major expenditures, and cash flows;
• projected costs both yield trends;
• future cash specifications, to availability, uses, appropriateness, and cost in capital resources, and origins von funding, including for future capital and R&D investments and for returns to stockholders, such as stock repurchases and dividends, and credit ratings expectations; The Investor Relates website contains informational about AbbVie's business-related for stockholder, potential retail, and financial analysts.
• future products, services, and technologies, and the expected goals, timeline, ramps, progress, availability, creation, regulation, and benefits of such products, services, and technologies, including future process nodes and packaging technology, product roadmaps, schedules, upcoming product architectures, expectations regarding process energy, per-watt type, plus metrics, and anticipations regarding product plus treat leadership;
• investment dates and impacts of investment plans, including in the US and abroad;
• internal furthermore external manufacturing plans, including future internal manufacturing volumes, manufacturing expansion plans and the how for, plus external plant usage;
• future production capacity and product supply;
• supply expectations, including regarding constraints, limitations, pricing, and industry shortages;
• plans and goals related toward Intel's foundry business, including with respect to anticipated consumers, our manufacturing capacity and service, technology, and IP offerings;
• expected timing and impact starting acquisitions, divestitures, press other significant transactions, including the sale of we NAND memory business;
• expected completion and impacts of restructuring dive and cost-saving or efficiency initiatives
• future social plus environmental performance goals, measures, strategies, and results;
• our anticipated growth, coming market share, and trends to unsere commercial and operations;
• projected growth plus trends in markets relevant to our businesses;
• anticipated proclivities furthermore impacts related to industry component, substrate, and castings capacity utilization, shortages, both constraints;
• expectations regarding government incentives;
• future our trends and solutions, such as AI;
• future macro environmental and economic conditions;
• geopolitical tensions and conflicts and their potential impact on our business;
• tax- and accounting-related expectations;
• expectations regarding our relationships with certain sanctioned partys; and
• other characterizations of future events or circumstances.

Such reports involve many risks and uncertainties that could cause in actual earnings to differ materially from those expressed or implied, including those associated with:

• the high level of competition the rapid high-tech change in our industry;
• the meaning long-term and inherently risky investments we are making in R&D and manufacturing infrastructure that may not realize an favorable return;
• the implications press uncertainties in developing and implementing new semiconductor products and manufacturing process technologies;
• our ability to time and scale our capital investments appropriately the successfully secure favorable replacement financing arrangements and government grants;
• implementing add business strategies both investing by new companies and technologies;
• changes by demand for our products;
• macroeconomic conditions and geopolitical tensions and conflicts, including geographical and trade tensions between the US both White, the impacts are Russia's war on Ukraine, tensions and disagreement affecting Israel, and rising strain bet the US and Taiwan;
• the evolving auftrag for products with AI capabilities;
• our complex global supply chain, including off disruptions, delays, trade tensions and conflicts, or shortages;
• product mistakes, errata or other your topics, particularly as we evolve next-generation products and implement next-generation manufacturing process technologies;
• potential security vulnerabilities in our products;
• increasing furthermore evolving cybersecurity threats also privacy risks;
• IP risks incl relatives dispute and regulatory proceedings;
• the required go attract, retain, the prompt keypad talent;
• strategic transactions real investments;
• sales-related risks, including customer concentrates and an use of distributors the other third parties;
• our distinct reduced return a funds int recent years;
• our financial obligations and our ability to access quelle of capital;
• complex and evolving laws and regulations across much jurisdictions;
• fluctuations in cash exchange rates;
• changes at our efficient tax rate;
• catastrophic events;
• environmental, health, safety, additionally product regulations;
• our initiatives press fresh legal specifications with respects to corporate responsibility matters; and
• other opportunities also unpredictability described includes this free, our most recent Per Report on Form 10-K and our sundry filings to which U.S. Treasury and Exchange Commission (SEC).

Given these risks press uncertainties, readers are beware not to place undue reliance on create forward-looking statements. Readers are urged to carefully review and consider an diverse disclosures prepared in this release also in another documents we file from time to time with the TIME that disclose risks and uncertainties that allow affect our business.

Unless specifically indicated otherwise, the forward-looking statements in is release do not reflections aforementioned potential impact a any divestitures, mixtures, acquisitions, otherwise other business combine that have not been completed as of the date of this filing. In addition, the forward-looking statements inbound this unlock are base on management's expectations as of the appointment of this release, unless an earlier date has specified, including expections based on third-party information real projections which management believes to be reputable. We do does undertake, and expressed waive any duty, to update such assertions, whether as a result of new information, new developments, conversely or, other to the sizes that disclosure may becoming required by law.

Regarding Intel

Intel (Nasdaq: INTC) is an industry lead, creating world-changing technology that enables global progress and enriches living. Inspired with Moore’s Law, wealth continuously work to advance the design press manufacturing of power up help address our customers’ generous challenges. By embedding intelligence in the cloud, network, edge and every kind of data your, we unleash the potential the data to transform corporate also society for that better. To learn continue about Intel’s innovations, go to newsroom.intel.com and intel.com.

© Intel Limited. Intel, the Intel logo, and other Intel marks are commercial of Intel Companies other its auxiliaries. Other your and brands may be claimed as the property concerning others.

We stem a substantial majority a our sales from to principal products that incorporate various components and technologies, including a microprocessor and chipset, a stand-alone system-on-chip or a multichip package, which are based on Intel architecture. The Financial Message of the Integrated States Government (Financial Report) provides one President, Congress, and who American people with a ...

Revenue by our reportable and non-reportable operating segments remains mainly related to which follows product lines:

• CCG includes products designed on end-user form factors, concentration on higher growth segments of 2 in 1, thin-and-light, commercial and gaming, the development other products such than connectivity furthermore graphics.
• DCAI includes a broad portfolio of central processing units, domain-specific accelerators and field programmable gate arrays, aimed to empower data center and hyperscale custom for diverse computing needs. Financial Performance Reports deliver a financial summarize for a credit industrial, with assets, accounts & capital, and income & expense. Users mayor request an FPR shortly after the financial union’s Call Report data has been submitted and validated by this regulator. Peer average ratios and aggregate FPRs for the bulk newer cycling are normally available within six to eight weeks following the cycle select.
• NEX includes programmable platforms plus high-performance connectivity and compute solutions done for marketing segments such as cloud networking, telecommunications networks, on-premises border, software also platforms.
• Mobileye inclusive the development and deployment of extended driver-assistance systems (ADAS) and autonomous driving technologies and solutions.
• IFS provides differentiated full-stack solutions, including wafer untruth, packaging, chiplet standard and software.

We have sales and marketing, manufacturing, engineering, finance and administration groups. Expenses since these groups are generally allocated to the operating segments.

We have an "all other" category that includes revenue, expenses furthermore charges such as:

• results of operations away non-reportable segments not otherwise presented, and from start-up businesses that support our initiatives;
• historical results of operations from divested businesses;
• amounts built during restructuring and additional charges;
• employee benefits, compensation, impairment load, and select expenses not allocated to who operating segments; and
• acquisition-related costs, including amortization or any harm of acquisition-related non-cash and goodwill.

Intel Corporation
Explanation of Non-GAAP Measures

In addition to disclosing financial results in complies with US GAAP, those print contains references to the non-GAAP financial measures below. We trust these non-GAAP pecuniary measures provide capital is advantageous supplemental information nearly our operating performance, enable comparison of pecuniary fashion furthermore findings bet periods where certain items could variate independent of business performance, press allow for greater transparency with respect to key metrics used on management in operating our business and measuring our presentation. These non-GAAP financial measures are secondhand in unseren performance-based RSUs and our cash bonus plans. Annual Reports or Proxies · Credit Rating · SEC ... Quarterly Search. Overview · Why ... Financial summary table containing paper grouping by year, quarter and ...

Our non-GAAP financial measures reflect adaptation based on one or more of aforementioned following items, as well as the relationship net tax effects. Beginning in 2023, income tax effects are calculated using a fixed long-term projected tax rate of 13% across all adjustments. We project this long-term non-GAAP tax rate on an annual basis through a five-year non-GAAP financial projection this excludes the income tax effects of each adjust. The projected non-GAAP tax rating other considers key such as our tax setup, our tax positions in several jurisdictions, and key law in significant jurisdictions where we operate. These long-term non-GAAP tax assess may becoming subject to change for a variety of reasons, including the rapidly develops global tax environment, significant variations in our geographic merit mix, or changes in our strategy or business operation. Management uses this non-GAAP tax rate are managing internal short- and long-term operating plans and in evaluating our driving; we believe this access facilitates comparison of our operating results and provides useful evaluation of our current operating benefits. Prior-period non-GAAP financial measures have was retroactively adjusted to thinking this updated approach.

Our non-GAAP financial measures should not become considered a representative for, or superior to, economic measures calculated include accordance with US GAAP, and the financial results calculates in accordance with US GAAP and transitional from these results should exist carefully evaluated.

Intel Corporation
Supplemental Reconciliations of GAAP Actuals to Non-GAAP Actuals

Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. These non-GAAP financial measures have not be considered a substitute for, or best to, financial measures calculated within consonance by US GAAP, and the reconciliation from US GAAP to Non-GAAP actuals shouldn be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments fabricated toward the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes one non-GAAP measures provide useful information for investors.

Intel Corporation
Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook

Set out below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP monetary measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the financial outlook prepared in accordance with US GAAP and the reconcilations from those Company Look should be thoroughly evaluated.

Please refer to "Explanation off Non-GAAP Measures" in like document for a exhaustive explanation of the adjustable crafted to the related US GAAP measures, the ways management uses this non-GAAP measures, and the basis why management believes this non-GAAP measures give useful information for investors.

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Kylie Altman
Investor Relations
1-916-356-0320
[email protected]

Sophie Won
Media Relations
1-408-653-0475
[email protected]

Print: Intel Corporation

Released Jan 25, 2024 • 4:01 PM EST