SANTA CLARA, Calif.--(BUSINESS WIRE)--Intel Corporation today reported third-quarter 2024 financial results.
“Our Q3 results underscore the solid progress we are making against the plan we outlined last quarter to reduce costs, simplify our portfolio and improve organizational efficiency. We delivered revenue above the midpoint of our guidance, and are acting with urgency to position the business for sustainable value creation moving forward,” said Pat Gelsinger, Intel CEO. “The momentum we are building across our product portfolio to maximize the value of our x86 franchise, combined with the strong interest Intel 18A is attracting from foundry customers, reflects the impact of our actions and the opportunities ahead.”
“Restructuring charges meaningfully impacted Q3 profitability as we took important steps toward our cost reduction goal,” said David Zinsner, Intel CFO. “The actions we took this quarter position us for improved profitability and enhanced liquidity as we continue to execute our strategy. We are encouraged by improved underlying trends, reflected in our Q4 guidance.”
Q3 2024 Financial Highlights
Revenue ($B) |
$13.3 |
$14.2 |
down 6% |
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Gross Margin |
15.0% |
42.5% |
down 27.5 ppts |
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R&D and MG&A ($B) |
$5.4 |
$5.2 |
up 4% |
In the third quarter, the company generated $4.1 billion in cash from operations and paid dividends of $0.5 billion.
*Not meaningful