Summary by Moomoo AI
Intel Corporation (Intel) reported a quarterly revenue of $12.7 billion, marking a 9% increase from Q1 2023, driven by a 31% rise in Client Computing Group (CCG) revenue due to higher notebook and desktop volumes. Data Center and AI (DCAI) revenue grew by 5% due to higher server average selling prices (ASPs), while Network and Edge (NEX) revenue declined by 8% due to reduced 5G customer purchases. Altera and Mobileye revenues decreased as customers reduced inventories. The company's gross margin improved to 41% from 34.2% in Q1 2023, with operating expenses totaling $5.9 billion, up 10% year-on-year. Intel's operating loss was $1.069 billion, an improvement from a $1.468 billion loss in the previous year. The company's diluted earnings per share (EPS) were a loss of $0.09, better than the $0.66 loss in Q1 2023. Intel's future plans include continued investments in research and development to accelerate its process technology roadmap, with a focus on cost efficiency initiatives to offset incremental costs.