"We reported solid Q1 results, delivering revenue in line and EPS above our guidance as we continue to focus on operating leverage and expense management." - Pat Gelsinger, CEO
— Pat Gelsinger
03Detailed Report
INTC
Intel Corporation
Period
Q1 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 20, 2026
Swipe to view all report sections
Executive Summary
Intel Corporation delivered solid Q1 2024 results with revenue reaching $12.72 billion, reflecting a 9% year-over-year increase despite challenging market conditions. The earnings per share (EPS) of $0.18 exceeded guidance, indicating strong operational management amidst cost-reduction initiatives. CEO Pat Gelsinger noted the quarter as a bottom for the company, expecting sequential revenue growth led by a refresh cycle in enterprise PCs and a recovery in the data center segment. The strategic positioning of Intel in areas like AI computing and its robust product roadmap suggest an optimistic outlook for the future.
Key Performance Indicators
Revenue
Decreasing
12.72B
QoQ: 0.00% | YoY: -1.74%
Gross Profit
Increasing
5.22B
41.00% margin
QoQ: 0.00% | YoY: 12.48%
Operating Income
Decreasing
-721.00M
QoQ: -32.55% | YoY: -29.04%
Net Income
Decreasing
-381.00M
QoQ: 0.00% | YoY: -125.73%
EPS
Decreasing
-0.09
QoQ: 0.00% | YoY: -125.66%
Revenue Trend
Margin Analysis
Financial Highlights
### Revenue Performance
- Total Revenue: $12.72 billion, up 9% YoY
- Gross Profit: $5.22 billion, yielding a gross margin of 41.0%
- Operating Income: -$721 million, reflecting challenges in cost management and production constraints
### Profitability Metrics
- Net Income: -$381 million, with an EPS of -$0.09
- Operating Margin: -5.6%, indicating operational inefficiencies due to high costs
### Balance Sheet Health
- Cash and Cash Equivalents: $6.92 billion
- Total Assets: $192.73 billion
- Total Liabilities: $81.98 billion, with a debt-to-equity ratio of 0.495, indicating moderate leverage.
### Cash Flow Analysis
- Free Cash Flow: -$7.19 billion, largely affected by significant capital expenditures of $5.97 billion and a drop in operating cash flow to -$1.22 billion, signaling tightening liquidity.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
12.72B
-1.74%
0.00%
Gross Profit
5.22B
12.48%
0.00%
Operating Income
-721.00M
-29.04%
-32.55%
Net Income
-381.00M
-125.73%
0.00%
EPS
-0.09
-125.66%
0.00%
Key Financial Ratios
Gross Profit Margin
Good
41.00%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Weak
-0.06%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-0.03%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
0.00%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
0.00%
Return on equity suggests inefficient capital allocation
Current Ratio
Healthy
1.57
Current ratio shows adequate liquidity to meet short-term obligations
Debt to Equity
Moderate
0.50
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Negative
-122.95x
Negative earnings make P/E ratio not meaningful
Price to Book
Fair Value
1.77x
Price-to-book ratio reasonable for profitable companies
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.