Intel has now announced its earnings for the fourth quarter of 2024, posting broadly encouraging results relative to Wall Street's consensus expectations, but tempered by a relatively tepid guidance.
Intel (NASDAQ: INTC) Earnings Release For The Fourth Quarter of 2024
For the three months that ended on the 31st of December 2024, Intel reported $14.26 billion in non-GAAP revenue, beating consensus expectations of $13.81 billion.
Revenue In Millions Of Dollars
Here is the actual performance of Intel's business segments in Q4 2024:
The following chart compares the performance of Intel's two major segments - Data Center and AI (DCAI) and Client Computing Group (CCG) - with Wall Street's consensus expectations (sourced from here).
Segmental Revenue Comparison In Millions Of Dollars
Intel reported a non-GAAP gross margin of 42.1 percent for the quarter against its own guidance of 39.5 percent. The company's margins have come under pressure recently as it ramped up the production of its AI-focused products by switching to the high-volume facility in Ireland, where wafer costs are generally higher. However, a beat on the guidance is an encouraging development.
Finally, Intel earned $0.13 in EPS (non-GAAP), beating consensus expectations of $0.12.
Here is the company's guidance for the first quarter of 2025:
This is the first earnings report under the interim arrangements following Pat Gelsinger's resignation in December 2024. The company is currently operating under two interim co-CEOs: David Zinsner and Michelle (MJ) Johnston Holthaus.
Investors have reacted positively to the company's latest earnings release, with the stock currently up around 2 percent in after-hours trading. Investors are appreciating Intel's broad-based beat on almost all metrics. However, we note with concern the company's atrocious guidance for the ongoing quarter, characterized by another plunge in revenue and margins, with basically a flat non-GAAP EPS.
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