Technology

Intel Reports Fourth-Quarter and Full-Year 2023 Financial Results News Summary — Fourth-quarter revenue was $15.4 billion, up 10 percent year-over-year (YoY). Full-year revenue was $54.2 billion, down 14 percent YoY. — Fourth-quarter earnings per share (EPS) attributable to Intel was $0.63; non-GAAP EPS attributable to Intel was $0.54. Full-year EPS attributable to Intel was $0.40; non-GAAP EPS attributable to Intel was $1.05. — Forecasting first-quarter 2024 revenue of $12.2 billion to $13.2 billion; expecting first-quarter EPS attributable to Intel of $(0.25) (non-GAAP EPS attributable to Intel of $0.13). SANTA CLARA, Calif.–(BUSINESS WIRE)–January 25, 2024– Intel Corporation today reported fourth-quarter and full-year 2023 financial results. “We delivered strong Q4 results, surpassing expectations for the fourth consecutive quarter with revenue at the higher end of our guidance,” said Pat Gelsinger, Intel CEO. “The quarter capped a year of tremendous progress on Intel’s transformation, where we consistently drove execution and accelerated innovation, resulting

Intel Guides For Q1 EPS of $0.13 on Revenue of $12.2-$13.2 Billion, Vs CIQ Analyst Consensus of $0.32/Share on Revenue of $14.2 Billion.

Intel sales rebounded in the fourth quarter, offering a signal of a strengthening PC market. The company says revenue rose 10% to $15.4 billion in 4Q, surpassing analysts estimates. The sales improvement helps Intel swing back to a profit, posting per-share earnings of 63 cents, ahead of the 21 cents forecast by analysts. The company’s computing segment saw revenue rise 33% from a year ago, helping offset a decline in data center and AI. Shares fall 6% to $46.58 after-hours.

Intel (INTC) late Thursday reported non-GAAP Q4 net income of $0.54 per share, improving on net income of $0.15 per share during the same quarter in 2022. Analysts polled by Capital IQ, on average, had been looking for normalized earnings of $0.45 per share by the chipmaker. Revenue for the three months ended Dec. 31 rose to $15.41 billion, compared with $14.04 billion a year ago. The analyst consensus was for $15.17 billion. Intel is projecting a non-GAAP profit of $0.13 per share on between $12.2 billion to $13.2 billion in revenue for the current quarter ending March 31. The Street sees the company earning $0.32 per share in Q1 on revenue of $14.15 billion. Intel shares were nearly 7% lower in extended trading.

Intel CEO Said Expect To Ship 40M AI-Enabled Personal Computers In 2024.

Intel Corporation‘s (NASDAQ:INTC) first-quarter guidance for 2024 has failed to meet revenue expectations by more than $1 billion, catching analysts off guard. What Happened: Matt Bryson, Senior Vice President at Wedbush Securities, in conversation with Yahoo Finance Live on Friday, analyzed the results and said he is “a bit surprised” at the extent of the guidance shortfall. Bryson argued that Intel’s decision to overship and maintain an excess inventory in Q4 resulted in a backlog that the company is now trying to manage. This situation has led to the current guidance shortfall, he explained. According to Bryson, data from Taiwan indicated a slowdown in PC production in the fourth quarter. He posited that Intel’s overshipping and a glut of inventory in Q4 have resulted in a current backlog, contributing to this disappointing forecast. Despite the initial dip, Bryson remained hopeful for Intel’s future. He acknowledged that the extraordinary demand during the COVID-19