INTC
$27.52
Intel
($.55)
(1.96%)
Earnings Details
2nd Quarter June 2022
Thursday, July 28, 2022 4:00:00 PM
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Summary

Intel Misses

Intel (INTC) reported 2nd Quarter June 2022 earnings of $0.29 per share on revenue of $15.3 billion. The consensus earnings estimate was $0.69 per share on revenue of $18.0 billion. The Earnings Whisper number was $0.75 per share. Revenue fell 22.0% compared to the same quarter a year ago.

The company said it expects third quarter earnings of approximately $0.35 per share on revenue of $15.0 billion to $16.0 billion. The current consensus earnings estimate is $0.90 per share on revenue of $18.85 billion for the quarter ending September 30, 2022. The company said it expects 2022 earnings of approximately $2.30 per share on revenue of $65.0 billion to $68.0 billion. The company's previous guidance was earnings of approximately $3.60 per share on revenue of approximately $76.0 billion and the current consensus earnings estimate is $3.46 per share on revenue of $74.68 billion for the year ending December 31, 2022.

Intel Corporation is a semiconductor chip maker. It develops integrated digital technology products like integrated circuits, for industries such as computing and communications.

Results
Reported Earnings
$0.29
Earnings Whisper
$0.75
Consensus Estimate
$0.69
Reported Revenue
$15.32 Bil
Revenue Estimate
$17.95 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Intel Reports Second-Quarter 2022 Financial Results

News Summary



  • Second-quarter GAAP revenue of $15.3 billion, down 22% year over year (YoY), and non-GAAP revenue of

    $15.3 billion, down 17% YoY.
  • Intel’s Client Computing and Datacenter and AI Groups largely impacted by continued adverse market conditions; Network and Edge Group and Mobileye achieved record quarterly revenue.
  • Second-quarter GAAP earnings per share (EPS) was $(0.11); non-GAAP EPS was $0.29.
  • Revising full-year revenue guidance to $65 billion to $68 billion; reiterating full-year adjusted free cash flow guidance.


SANTA CLARA, Calif., July 28, 2022 –Intel Corporation today reported second-quarter 2022 financial results.

“This quarter’s results were below the standards we have set for the company and our shareholders. We must and will do better. The sudden and rapid decline in economic activity was the largest driver, but the shortfall also reflects our own execution issues,” said Pat Gelsinger, Intel CEO. “We are being responsive to changing business conditions, working closely with our customers while remaining laser-focused on our strategy and long-term opportunities. We are embracing this challenging environment to accelerate our transformation.”

"We are taking necessary actions to manage through the current environment, including accelerating the deployment of our smart capital strategy, while reiterating our prior full-year adjusted free cash flow guidance and returning gross margins to our target range by the fourth quarter," said David Zinsner, Intel CFO. "We remain fully committed to our business strategy, the long-term financial model communicated at our investor meeting and a strong and growing dividend."

For the full earnings release, please go here