The earnings call presented a mix of positive strides in revenue, cost reduction, and strategic partnerships, alongside significant challenges in profitability, market adoption, and restructuring impacts. While the company is making progress in innovation and ecosystem development, financial hurdles remain a concern.

Company Guidance

During the Intel Corporation's Q3 2024 earnings call, CEO Pat Gelsinger and CFO David Zinsner provided guidance highlighting a strategic focus on cost reduction and efficiency improvements. The company delivered Q3 revenue of $13.3 billion, exceeding the midpoint of their guidance, and set a target for reducing nonproduct cost of sales by $1 billion and operating expenses to $17.5 billion by 2025. The restructuring actions, including a greater than 15% workforce reduction, are expected to save over $10 billion in spending by 2025. Intel's outlook for Q4 2024 is modestly above current consensus, with expected revenue between $13.3 billion and $14.3 billion, and a non-GAAP gross margin of approximately 39.5%. Moreover, Intel is focused on enhancing its x86 franchise's value across client, edge, and data center markets, while also planning to streamline its portfolio for improved operational efficiency and market competitiveness.

Revenue and Growth

Q3 revenue was $13.3 billion, up 4% sequentially and in the upper half of the guidance range. Intel Products and Intel Foundry both delivered sequential revenue growth.

Cost Reduction and Efficiency

Completed the vast majority of headcount actions in Q3. On track for a greater than 15% workforce reduction by the end of the year. Reduced capital expenditures by over 20% relative to the plan at the beginning of the year.

Intel Foundry Progress

Intel Foundry revenue was $4.4 billion, up slightly sequentially. Announced a multiyear, multibillion-dollar commitment by AWS for Intel 3 and Intel 18A chips.

Product Innovations

Launched Intel Core Ultra 200V Series processors and Arrow Lake, which brings AI performance to desktops. Announced Xeon 6 and Gaudi 3 AI accelerator with promising performance.

Collaborations and Ecosystem

Formed the x86 Ecosystem Advisory Group with partners like AMD, Broadcom, Dell, Google, HPE, HP Inc., Lenovo, Meta, Microsoft, Oracle, and Red Hat.

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Intel (INTC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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INTC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 23, 2025	2024 (Q4)	0.12 / -	0.54	―	―	―
Oct 31, 2024	2024 (Q3)	-0.02 / -0.46	0.41	-212.20% (-0.87)
Aug 01, 2024	2024 (Q2)	0.10 / 0.02	0.13	-84.62% (-0.11)
Apr 25, 2024	2024 (Q1)	0.14 / 0.18	-0.04	550.00% (+0.22)
Jan 25, 2024	2023 (Q4)	0.45 / 0.54	0.1	440.00% (+0.44)
Oct 26, 2023	2023 (Q3)	0.22 / 0.41	0.59	-30.51% (-0.18)
Jul 27, 2023	2023 (Q2)	-0.04 / 0.13	0.29	-55.17% (-0.16)
Apr 27, 2023	2023 (Q1)	-0.16 / -0.04	0.87	-104.60% (-0.91)
Jan 26, 2023	2022 (Q4)	0.20 / 0.10	1.09	-90.83% (-0.99)
Oct 27, 2022	2022 (Q3)	0.37 / 0.59	1.71	-65.50% (-1.12)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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INTC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 31, 2024	$21.52	$23.20	+7.81%
Aug 01, 2024	$28.87	$21.34	-26.08%
Apr 25, 2024	$34.75	$31.55	-9.21%
Jan 25, 2024	$48.90	$43.07	-11.92%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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