"We delivered Q3 revenue above the midpoint of our guidance and we made significant progress on our cost reduction plan."
— Pat Gelsinger
03Detailed Report
INTC
Intel Corporation
Period
Q3 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 20, 2026
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Executive Summary
Intel Corporation reported its Q3 2024 results with a total revenue of $13.28 billion, reflecting a modest increase of 3.51% from the previous quarter, driven by improvements in both the client computing group and foundry services. However, the company faced a significant net income loss of $16.64 billion, ballooned by restructuring charges, inventory impairments, and market transition costs. Despite these challenges, Intel's management emphasized a commitment to operational efficiency and a strategic pivot to maximize its x86 architecture's potential, especially in light of evolving AI demands in the computing landscape. CEO Pat Gelsinger stated that the team is committed to "act with urgency to deliver on our priorities, focusing on a leaner, more profitable Intel."
Key Performance Indicators
Revenue
Decreasing
13.28B
QoQ: 3.51% | YoY: -13.77%
Gross Profit
Decreasing
2.00B
15.03% margin
QoQ: -56.08% | YoY: -71.66%
Operating Income
Decreasing
-9.06B
QoQ: 787.07% | YoY: -450.37%
Net Income
Decreasing
-16.64B
QoQ: 933.48% | YoY: -723.42%
EPS
Decreasing
-3.88
QoQ: 921.05% | YoY: -715.87%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue Performance: In Q3 2024, Intel's revenue stood at $13.28 billion, marking an 3.51% increase QoQ but a 13.77% decline YoY. This highlights the ongoing challenge of market share competition against rivals like AMD and NVIDIA, particularly in the AI and data center segments.
Profitability: Intel suffered a staggering net loss of $16.64 billion, reflecting a net income ratio of -1.25. The operating income was negative at -$9.06 billion, largely due to $15.6 billion in impairment charges and significant restructuring expenses linked to workforce reductions.
Costs and Expenditures: The cost of revenue accounted for approximately 85% of sales, with substantial research and development expenses also impacting profitability. Operating expenses were noted at $11.05 billion, emphasizing the need for robust cost optimization strategies.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
13.28B
-13.77%
3.51%
Gross Profit
2.00B
-71.66%
-56.08%
Operating Income
-9.06B
-450.37%
787.07%
Net Income
-16.64B
-723.42%
933.48%
EPS
-3.88
-715.87%
921.05%
Key Financial Ratios
Gross Profit Margin
Weak
15.00%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
-0.68%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-1.25%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
-0.09%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.17%
Return on equity suggests inefficient capital allocation
Current Ratio
Adequate
1.31
Current ratio meets minimum requirements but limited cushion
Debt to Equity
Moderate
0.51
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Negative
-1.54x
Negative earnings make P/E ratio not meaningful
Price to Book
Fair Value
1.03x
Price-to-book ratio reasonable for profitable companies
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