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Intel | 8-K: Intel Reports Fourth Quarter and Full Year 2023 Financial Results

SEC announcement ·  Jan 25 16:12
Summary by Moomoo AI
On January 25, 2024, Intel Corporation released its fourth-quarter financial results for the period ending December 30, 2023, and provided forward-looking statements for the first quarter of 2024. The report highlighted a 10% year-over-year increase in fourth-quarter revenue to $15.4 billion, while full-year revenue declined by 14% to $54.2 billion. The fourth-quarter earnings per share (EPS) attributable to Intel was $0.63, with a non-GAAP EPS of $0.54. Full-year EPS was reported at $0.40, and non-GAAP EPS at $1.05. Intel forecasts first-quarter 2024 revenue between $12.2 billion and $13.2 billion, with an expected EPS loss of $(0.25) and non-GAAP EPS of $0.13. CEO Pat Gelsinger emphasized the company's transformation progress and focus on achieving leadership in process and product, expanding its foundry business, and executing its...Show More
On January 25, 2024, Intel Corporation released its fourth-quarter financial results for the period ending December 30, 2023, and provided forward-looking statements for the first quarter of 2024. The report highlighted a 10% year-over-year increase in fourth-quarter revenue to $15.4 billion, while full-year revenue declined by 14% to $54.2 billion. The fourth-quarter earnings per share (EPS) attributable to Intel was $0.63, with a non-GAAP EPS of $0.54. Full-year EPS was reported at $0.40, and non-GAAP EPS at $1.05. Intel forecasts first-quarter 2024 revenue between $12.2 billion and $13.2 billion, with an expected EPS loss of $(0.25) and non-GAAP EPS of $0.13. CEO Pat Gelsinger emphasized the company's transformation progress and focus on achieving leadership in process and product, expanding its foundry business, and executing its AI strategy. CFO David Zinsner highlighted operational efficiencies and a commitment to $3 billion in cost savings for 2023. The report also included non-GAAP financial measures and reconciliations to GAAP measures, explaining their usefulness to investors. Intel's stock, traded under the symbol INTC on the Nasdaq Global Select Market, saw its common stock registered pursuant to Section 12(b) of the Act.

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