"We are taking aggressive actions to significantly reduce spending in response to lower than anticipated revenue in the back half of the year." - Pat Gelsinger
— Pat Gelsinger
03Detailed Report
INTC
Intel Corporation
Period
Q2 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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Executive Summary
Intel Corporation reported disappointing Q2 2024 results with a net income loss of $1.61 billion, significantly impacted by the rapid ramp of AI PC products amid shifting market conditions. Revenue grew sequentially to $12.83 billion, reflecting a year-over-year decline of 1%. Management has identified a path forward centered on cost reductions and improved capital efficiency, targeting greater than $10 billion in savings by 2025. CEO Pat Gelsinger emphasized the strategic investments in AI and next-generation products like Panther Lake, expected to deliver higher margins in the future. Despite current challenges, Intel remains committed to strengthening its market position through innovation and operational restructuring.
Capital Expenditures: Estimated KapEx in 2024 between $25 billion and $27 billion, reduced by over 20% from previous plans, reflecting expected softer demand in the second half of the year.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
12.83B
-9.36%
0.86%
Gross Profit
4.55B
-24.44%
-12.84%
Operating Income
-1.02B
12 662.50%
41.61%
Net Income
-1.61B
-642.09%
322.57%
EPS
-0.38
-642.86%
323.16%
Key Financial Ratios
Gross Profit Margin
Fair
35.40%
Gross profit margin is moderate, room for improvement in cost management
Operating Profit Margin
Weak
-0.08%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-0.13%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
-0.01%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.01%
Return on equity suggests inefficient capital allocation
Current Ratio
Healthy
1.59
Current ratio shows adequate liquidity to meet short-term obligations
Debt to Equity
Moderate
0.46
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Negative
-20.52x
Negative earnings make P/E ratio not meaningful
Price to Book
Fair Value
1.15x
Price-to-book ratio reasonable for profitable companies
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