Gate News message, April 23 — Intel delivered first-quarter earnings that significantly beat Wall Street expectations, with revenue of $13.58 billion against a $12.42 billion estimate and adjusted earnings per share of $0.29 versus an expected $0.01. The chipmaker’s stock surged 15% in after-hours trading following the announcement.
On a GAAP basis, Intel reported $13.6 billion in revenue, up 7% year-over-year, with gross margin expanding to 39.4% from 36.9%. R&D and MG&A costs declined 8% to $4.4 billion, while the company generated $1.1 billion in operating cash flow. For the second quarter, Intel guided for revenue between $13.8 billion and $14.8 billion, with non-GAAP diluted EPS of $0.20. CEO Lip-Bu Tan stated, “With a solid foundation in place, we are addressing this opportunity by listening to our customers and driving their success with our technical expertise and differentiated IP,” noting this marks the sixth consecutive quarter of revenue above expectations.
Data Center and AI revenue reached $5.1 billion, up 22%, while total Intel Products revenue climbed 9% to $12.8 billion. Intel Foundry Services grew 16% to $5.4 billion. The company launched new product lines including Xeon 600 processors, Core Ultra 200S Plus and 200HX Plus chips, and Core Series 3 processors featuring Intel 18A technology. Intel signed a multiyear deal with Google to deploy Xeon processors across workload-optimized instances and collaborate on custom ASIC IPUs for AI workload optimization. Xeon 6 was also selected as the host CPU for NVIDIA’s DGX Rubin NVL8 systems. Additionally, Intel joined the Terafab project alongside SpaceX, xAI, and Tesla, expanded assembly and test capacity in Penang, Malaysia, and repurchased a 49% minority equity interest in its joint investment entity linked to Fab 34 in Ireland.
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