{"id":65757,"date":"2022-07-29T11:56:30","date_gmt":"2022-07-29T09:56:30","guid":{"rendered":"https:\/\/www.planet3dnow.de\/cms\/?p=65757"},"modified":"2022-07-29T11:56:30","modified_gmt":"2022-07-29T09:56:30","slug":"intel-reports-second-quarter-2022-financial-results","status":"publish","type":"post","link":"https:\/\/www.planet3dnow.de\/cms\/65757-intel-reports-second-quarter-2022-financial-results\/","title":{"rendered":"Intel Reports Second-Quarter 2022 Financial Results"},"content":{"rendered":"

News Sum\u00adma\u00adry<\/u><\/p>\n

\u25aaSecond-quar\u00adter GAAP<\/span> reve\u00adnue of $15.3 bil\u00adli\u00adon, down 22% year over year (YoY), and non-GAAP reve\u00adnue of $15.3 bil\u00adli\u00adon, down 17% YoY.<\/p>\n

\u25aaIntel\u2019s Cli\u00adent Com\u00adpu\u00adting and Dat\u00ada\u00adcen\u00adter and AI<\/span> Groups lar\u00adge\u00adly impac\u00adted by con\u00adtin\u00adued adver\u00adse mar\u00adket con\u00addi\u00adti\u00adons; Net\u00adwork and Edge Group and Mobi\u00adleye achie\u00adved record quar\u00adter\u00adly revenue.<\/p>\n

\u25aaSecond-quar\u00adter GAAP<\/span> ear\u00adnings per share (EPS<\/span>) was $(0.11); non-GAAP EPS<\/span> was $0.29.<\/p>\n

\u25aaRevi\u00adsing full-year reve\u00adnue gui\u00addance to $65 bil\u00adli\u00adon to $68 bil\u00adli\u00adon; rei\u00adte\u00adra\u00adting full-year adjus\u00adted free cash flow guidance.<\/p>\n

SANTA<\/span> CLARA<\/span>, Calif., July28, 2022 \u2013Intel Cor\u00adpo\u00adra\u00adti\u00adon today repor\u00adted second-quar\u00adter 2022 finan\u00adcial results.<\/p>\n

\u201c<\/span>This quarter\u2019s results were below the stan\u00addards we have set for the com\u00adpa\u00adny and our share\u00adhol\u00adders. We must and will do bet\u00adter. The sud\u00adden and rapid decli\u00adne in eco\u00adno\u00admic acti\u00advi\u00adty was the lar\u00adgest dri\u00adver, but the short\u00adfall also reflects our own exe\u00adcu\u00adti\u00adon issues,\u201d said Pat Gel\u00adsin\u00adger, Intel CEO<\/span>. \u201cWe are being respon\u00adsi\u00adve to chan\u00adging busi\u00adness con\u00addi\u00adti\u00adons, working clo\u00adse\u00adly with our cus\u00adto\u00admers while remai\u00adning laser-focu\u00adsed on our stra\u00adtegy and long-term oppor\u00adtu\u00adni\u00adties. We are embra\u00adcing this chal\u00adlen\u00adging envi\u00adron\u00adment to acce\u00adle\u00adra\u00adte our transformation.\u201d<\/p>\n

\u201c<\/span>We are taking neces\u00adsa\u00adry actions to mana\u00adge through the cur\u00adrent envi\u00adron\u00adment, inclu\u00adding acce\u00adle\u00adra\u00adting the deploy\u00adment of our smart capi\u00adtal stra\u00adtegy, while rei\u00adte\u00adra\u00adting our pri\u00ador full-year adjus\u00adted free cash flow gui\u00addance and retur\u00adning gross mar\u00adgins to our tar\u00adget ran\u00adge by the fourth quar\u00adter,\u201d said David Zins\u00adner, Intel CFO<\/span>. \u201cWe remain ful\u00adly com\u00admit\u00adted to our busi\u00adness stra\u00adtegy, the long-term finan\u00adcial model com\u00admu\u00adni\u00adca\u00adted at our inves\u00adtor mee\u00adting and a strong and gro\u00adwing dividend.\u201d<\/p>\n

Q2<\/span> 2022 Finan\u00adcial Highlights<\/u><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\nGAAP<\/span><\/strong><\/b><\/td>\n <\/td>\nNon-GAAP<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\nQ2<\/span> 2022<\/strong><\/b><\/td>\nQ2<\/span> 2021<\/strong><\/b><\/td>\nvs. Q2<\/span> 2021<\/strong><\/b><\/td>\n <\/td>\nQ2<\/span> 2022<\/strong><\/b><\/td>\nQ2<\/span> 2021<\/strong><\/b><\/td>\nvs. Q2<\/span> 2021<\/strong><\/b><\/td>\n<\/tr>\n
Reve\u00adnue ($B)<\/td>\n$15.3<\/td>\n$19.6<\/td>\ndown 22%<\/td>\n <\/td>\n$15.3^<\/td>\n$18.5<\/td>\ndown 17%<\/td>\n<\/tr>\n
Gross Mar\u00adgin<\/td>\n36.5%<\/td>\n57.1%<\/td>\ndown 20.6 ppt<\/td>\n <\/td>\n44.8%<\/td>\n59.8%<\/td>\ndown 15.0 ppt<\/td>\n<\/tr>\n
R&<\/span>D and MG<\/span>&<\/span>A ($B)<\/td>\n$6.2<\/td>\n$5.3<\/td>\nup 17%<\/td>\n <\/td>\n$5.5<\/td>\n$4.6<\/td>\nup 18%<\/td>\n<\/tr>\n
Ope\u00adra\u00adting Margin<\/td>\n(4.6)%<\/td>\n28.3%<\/td>\ndown 32.8 ppt<\/td>\n <\/td>\n9.2%<\/td>\n34.9%<\/td>\ndown 25.7 ppt<\/td>\n<\/tr>\n
Tax Rate<\/td>\n50.1%<\/td>\n11.9%<\/td>\nup 38.1 ppt<\/td>\n <\/td>\n10.3%<\/td>\n12.7%<\/td>\ndown 2.3 ppt<\/td>\n<\/tr>\n
Net Inco\u00adme (loss) ($B)<\/td>\n$(0.5)<\/td>\n$5.1<\/td>\ndown 109%<\/td>\n <\/td>\n$1.2<\/td>\n$5.6<\/td>\ndown 79%<\/td>\n<\/tr>\n
Ear\u00adnings (loss) Per Share<\/td>\n$(0.11)<\/td>\n$1.24<\/td>\ndown 109%<\/td>\n <\/td>\n$0.29<\/td>\n$1.36<\/td>\ndown 79%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

In the second quar\u00adter, the com\u00adpa\u00adny gene\u00adra\u00adted $0.8 bil\u00adli\u00adon in cash from ope\u00adra\u00adti\u00adons and paid divi\u00addends of $1.5 billion.<\/p>\n

Busi\u00adness Unit Summary<\/u><\/p>\n

Intel pre\u00advious\u00adly announ\u00adced seve\u00adral orga\u00adniza\u00adtio\u00adnal chan\u00adges to acce\u00adle\u00adra\u00adte its exe\u00adcu\u00adti\u00adon and inno\u00adva\u00adti\u00adon by allo\u00adwing it to cap\u00adtu\u00adre growth in both lar\u00adge tra\u00addi\u00adtio\u00adnal mar\u00adkets and high-growth emer\u00adging mar\u00adkets. This includes the reor\u00adga\u00adniza\u00adti\u00adon of Intel\u2019s busi\u00adness units to cap\u00adtu\u00adre this growth and pro\u00advi\u00adde increased trans\u00adpa\u00adren\u00adcy, focus and accoun\u00adta\u00adbi\u00adli\u00adty. As a result, the com\u00adpa\u00adny modi\u00adfied its seg\u00adment report\u00ading to ali\u00adgn to the pre\u00advious\u00adly announ\u00adced busi\u00adness reor\u00adga\u00adniza\u00adti\u00adon. All pri\u00ador-peri\u00adod seg\u00adment data has been retro\u00ads\u00adpec\u00adtively adjus\u00adted to reflect the way the com\u00adpa\u00adny intern\u00adal\u00adly mana\u00adges and moni\u00adtors ope\u00adra\u00adting seg\u00adment per\u00adfor\u00admance start\u00ading in fis\u00adcal year 2022.<\/p>\n\n\n\n\n\n\n\n\n\n
Key Busi\u00adness Unit Reve\u00adnue and Trends<\/strong><\/b><\/td>\n <\/td>\nQ2<\/span> 2022<\/strong><\/b><\/td>\n <\/td>\nvs. Q2<\/span> 2021<\/strong><\/b><\/td>\n<\/tr>\n
Cli\u00adent Com\u00adpu\u00adting Group (CCG<\/span>)<\/td>\n <\/td>\n$7.7 bil\u00adli\u00adon<\/td>\n <\/td>\ndown<\/td>\n25%<\/td>\n<\/tr>\n
Dat\u00ada\u00adcen\u00adter and AI<\/span> Group (DCAI<\/span>)<\/td>\n <\/td>\n$4.6 bil\u00adli\u00adon<\/td>\n <\/td>\ndown<\/td>\n16%<\/td>\n<\/tr>\n
Net\u00adwork and Edge Group (NEX<\/span>)<\/td>\n <\/td>\n$2.3 bil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n11%<\/td>\n<\/tr>\n
Acce\u00adle\u00adra\u00adted Com\u00adpu\u00adting Sys\u00adtems and Gra\u00adphics Group (AXG<\/span>)<\/td>\n <\/td>\n$186 mil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n5%<\/td>\n<\/tr>\n
Mobi\u00adleye<\/td>\n <\/td>\n$460 mil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n41%<\/td>\n<\/tr>\n
Intel Foundry Ser\u00advices (IFS<\/span>)<\/td>\n <\/td>\n$122 mil\u00adli\u00adon<\/td>\n <\/td>\ndown<\/td>\n54%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Busi\u00adness Highlights<\/strong><\/b><\/p>\n

 <\/p>\n

\u25aaIntel made signi\u00adfi\u00adcant pro\u00adgress during the quar\u00adter on the ramp of Intel 7, now ship\u00adping in aggre\u00adga\u00adte over 35 mil\u00adli\u00adon units. The com\u00adpa\u00adny expects Intel 4 to be rea\u00addy for volu\u00adme pro\u00adduc\u00adtion in the second half of this year and is at or ahead of sche\u00addu\u00adle for Intel 3, 20A<\/span> and 18A<\/span>.<\/p>\n

\u25aaIFS<\/span> recent\u00adly announ\u00adced a stra\u00adte\u00adgic part\u00adner\u00adship with Media\u00adTek to manu\u00adfac\u00adtu\u00adre chips for a ran\u00adge of smart edge devices using Intel pro\u00adcess tech\u00adno\u00adlo\u00adgies. During the quar\u00adter, Intel also laun\u00adched the IFS<\/span> Cloud Alli\u00adance, the next pha\u00adse of its acce\u00adle\u00adra\u00adtor eco\u00adsys\u00adtem pro\u00adgram that will enable secu\u00adre design envi\u00adron\u00adments in the cloud.<\/p>\n

\u25aaIn the second quar\u00adter, CCG<\/span> laun\u00adched the 12th gene\u00adra\u00adti\u00adon Intel\u00ae<\/sup>Core\u2122 HX<\/span> pro\u00adces\u00adsors, the final pro\u00adducts in Intel\u2019s Alder Lake fami\u00adly, which is now powe\u00adring more than 525 designs.<\/p>\n

\u25aaIn DCAI<\/span>, Intel expan\u00added its sup\u00adp\u00adly agree\u00adment with Meta, lever\u00adaging its IDM<\/span> advan\u00adta\u00adge so that Meta can meet its expan\u00adding com\u00adpu\u00adte needs.In the quar\u00adter, Intel agreed to expand its part\u00adner\u00adship with AWS<\/span> to include the co-deve\u00adlo\u00adp\u00adment of mul\u00adti-gene\u00adra\u00adtio\u00adnal data cen\u00adter solu\u00adti\u00adons opti\u00admi\u00adzed for AWS<\/span> infra\u00adstruc\u00adtu\u00adre, and Intel as a stra\u00adte\u00adgic cus\u00adto\u00admer for inter\u00adnal workloads, inclu\u00adding EDA<\/span>. Intel expects the\u00adse cus\u00adtom\u00adIn\u00adtel\u00ae<\/sup>Xeon\u00ae<\/sup>solu\u00adti\u00adons will bring grea\u00adter levels of dif\u00adfe\u00adren\u00adtia\u00adti\u00adon and a dura\u00adble TCO<\/span> advan\u00adta\u00adge to AWS<\/span> and its cus\u00adto\u00admers, inclu\u00adding Intel.In addi\u00adti\u00adon, NVIDIA<\/span> announ\u00adced its sel\u00adec\u00adtion of Sap\u00adphi\u00adre Rapids for use in its new DGX-H100<\/span>, which will cou\u00adple Sap\u00adphi\u00adre Rapids with NVIDIA<\/span>\u2019s Hop\u00adper GPUs to deli\u00adver unpre\u00adce\u00adden\u00adted AI<\/span> performance.<\/p>\n

\u25aaNEX<\/span> achie\u00adved record reve\u00adnue and began ship\u00adping Mount Evans, a 200G<\/span> ASIC<\/span> IPU<\/span>, which was co-deve\u00adlo\u00adped and is begin\u00adning to ramp with a lar\u00adge hypers\u00adca\u00adler. In addi\u00adti\u00adon, the Intel\u00ae<\/sup>Xeon\u00ae<\/sup>D pro\u00adces\u00adsor is ram\u00adping with lea\u00adding com\u00adpa\u00adnies across industries.<\/p>\n

\u25aaAXG<\/span> ship\u00adped Intel\u2019s first Intel\u00ae<\/sup>Blocksca\u00adleTM<\/span><\/sup>ASIC<\/span>, and the Intel\u00ae<\/sup>ArcTM<\/span><\/sup>A\u2011series GPUs for lap\u00adtops began ship\u00adping with OEMs, inclu\u00adding Sam\u00adsung, Leno\u00advo, Acer, HP<\/span> and Asus.<\/p>\n

\u25aaMobi\u00adleye achie\u00adved record reve\u00adnue in the quar\u00adter with first half 2022 design wins gene\u00adra\u00adting 37 mil\u00adli\u00adon units of pro\u00adjec\u00adted future business.<\/p>\n

Busi\u00adness Outlook<\/u><\/p>\n

Intel\u2019s gui\u00addance for the third quar\u00adter and full year includes both GAAP<\/span> and non-GAAP esti\u00adma\u00adtes. Recon\u00adci\u00adlia\u00adti\u00adons bet\u00adween GAAP<\/span> and non-GAAP finan\u00adcial mea\u00adsu\u00adres are included below.<\/p>\n\n\n\n\n\n\n\n\n
Q3<\/span> 2022<\/strong><\/b><\/td>\n <\/td>\nGAAP<\/span><\/strong><\/b><\/td>\n <\/td>\nNon-GAAP<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\nAppro\u00adxi\u00adm\u00adate\u00adly<\/td>\n <\/td>\nAppro\u00adxi\u00adm\u00adate\u00adly<\/td>\n<\/tr>\n
Reve\u00adnue<\/td>\n <\/td>\n$15\u201316 bil\u00adli\u00adon<\/td>\n <\/td>\n$15\u201316 bil\u00adli\u00adon^<\/td>\n<\/tr>\n
Gross Mar\u00adgin<\/td>\n <\/td>\n43.2%<\/td>\n <\/td>\n46.5%<\/td>\n<\/tr>\n
Tax rate<\/td>\n <\/td>\n(17)%<\/td>\n <\/td>\n13%<\/td>\n<\/tr>\n
Ear\u00adnings per share<\/td>\n <\/td>\n$0.12<\/td>\n <\/td>\n$0.35<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Full-Year 2022<\/strong><\/b><\/td>\n <\/td>\nGAAP<\/span><\/strong><\/b><\/td>\n <\/td>\nNon-GAAP<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\nAppro\u00adxi\u00adm\u00adate\u00adly<\/td>\n <\/td>\nAppro\u00adxi\u00adm\u00adate\u00adly<\/td>\n<\/tr>\n
Reve\u00adnue<\/td>\n <\/td>\n$65\u201368 bil\u00adli\u00adon<\/td>\n <\/td>\n$65\u201368 bil\u00adli\u00adon^<\/td>\n<\/tr>\n
Gross Mar\u00adgin<\/td>\n <\/td>\n44.8%<\/td>\n <\/td>\n49.0%<\/td>\n<\/tr>\n
Tax rate<\/td>\n <\/td>\n6%<\/td>\n <\/td>\n8%<\/td>\n<\/tr>\n
Ear\u00adnings per share<\/td>\n <\/td>\n$2.57<\/td>\n <\/td>\n$2.30<\/td>\n<\/tr>\n
Full-year net capi\u00adtal spending<\/td>\n <\/td>\n$27 bil\u00adli\u00adon<\/td>\n <\/td>\n$23 bil\u00adli\u00adon<\/td>\n<\/tr>\n
Adjus\u00adted free cash flow<\/td>\n <\/td>\nN\/A<\/td>\n <\/td>\n($1\u20132 bil\u00adli\u00adon)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Actu\u00adal results may dif\u00adfer mate\u00adri\u00adal\u00adly from Intel\u2019s Busi\u00adness Out\u00adlook as a result of, among other things, the fac\u00adtors descri\u00adbed under \u201cFor\u00adward-Loo\u00adking State\u00adments\u201d below.<\/p>\n

Ear\u00adnings Webcast<\/u><\/p>\n

Intel will hold a public web\u00adcast at 2 p.m. PDT<\/span> today to dis\u00adcuss the results for its second quar\u00adter of 2022. The live public web\u00adcast can be acces\u00adsed on Intel\u2019s Inves\u00adtor Rela\u00adti\u00adons web\u00adsite atwww.intc.com. The Q2\u201922 ear\u00adnings pre\u00adsen\u00adta\u00adti\u00adon, web\u00adcast replay and audio down\u00adload will also be available on the site.<\/p>\n

For\u00adward-Loo\u00adking Statements<\/u><\/p>\n

Intel\u2019s Busi\u00adness Out\u00adlook and other state\u00adments in this release that refer to future plans and expec\u00adta\u00adti\u00adons are for\u00adward-loo\u00adking state\u00adments that invol\u00adve a num\u00adber of risks and uncer\u00adtain\u00adties. Words such as \u201cacce\u00adle\u00adra\u00adte,\u201d \u201cachie\u00adve,\u201d \u201cadjust,\u201d \u201callow,\u201d \u201canti\u00adci\u00adpa\u00adtes,\u201d \u201cbelie\u00adves,\u201d \u201ccom\u00admit\u00adted,\u201d \u201ccon\u00adti\u00adnues,\u201d \u201ccould,\u201d \u201cdeli\u00adver,\u201d \u201cesti\u00adma\u00adtes,\u201d \u201cexpand,\u201d \u201cexpects,\u201d \u201cfocus,\u201d \u201cfore\u00adcast,\u201d \u201cfuture,\u201d \u201cgoals,\u201d \u201cgrow,\u201d \u201cgui\u00addance,\u201d \u201cimpro\u00adve,\u201d \u201cincre\u00adasing,\u201d \u201cmana\u00adge,\u201d \u201cmay,\u201d \u201con-track,\u201d \u201coppor\u00adtu\u00adni\u00adty,\u201d \u201cout\u00adlook,\u201d \u201cplan,\u201d \u201cposi\u00adtio\u00adned,\u201d \u201cpoten\u00adti\u00adal,\u201d \u201cpro\u00adgress,\u201d \u201cramp,\u201d \u201crefo\u00adcus,\u201d \u201cregain,\u201d \u201cshar\u00adpen,\u201d \u201cshould,\u201d \u201csup\u00adport,\u201d \u201cwill,\u201d \u201cwould,\u201d and varia\u00adti\u00adons of such words and simi\u00adlar expres\u00adsi\u00adons are inten\u00added to iden\u00adti\u00adfy such for\u00adward-loo\u00adking state\u00adments. State\u00adments that refer to or are based on esti\u00adma\u00adtes, fore\u00adcasts, pro\u00adjec\u00adtions, uncer\u00adtain events or assump\u00adti\u00adons, inclu\u00adding state\u00adments rela\u00adting to Intel\u2019s stra\u00adtegy and its anti\u00adci\u00adpa\u00adted bene\u00adfits, inclu\u00adding our Febru\u00adary 2022 Inves\u00adtor Day finan\u00adcial model, Smart Capi\u00adtal stra\u00adtegy, and updates to our report\u00ading struc\u00adtu\u00adre; manu\u00adfac\u00adtu\u00adring expan\u00adsi\u00adon, finan\u00adcing, and invest\u00adment plans, inclu\u00adding the impacts of plans such as our announ\u00adced invest\u00adments in the U.S. and abroad; plans, cus\u00adto\u00admers, and goals rela\u00adted to Intel\u2019s foundry busi\u00adness; pro\u00adjec\u00adted cos\u00adts and yield trends; sup\u00adp\u00adly expec\u00adta\u00adti\u00adons, inclu\u00adding regar\u00adding indus\u00adtry shorta\u00adges, cons\u00adtraints, limi\u00adta\u00adti\u00adons, pri\u00adcing and suf\u00adfi\u00adci\u00aden\u00adcy of future sup\u00adp\u00adly; pen\u00adding tran\u00adsac\u00adtions, inclu\u00adding the pen\u00adding acqui\u00adsi\u00adti\u00adon of Tower Semi\u00adcon\u00adduc\u00adtor Ltd.and the wind-down of our Intel\u00ae Opta\u00adne\u2122 memo\u00adry busi\u00adness; the pro\u00adpo\u00adsed initi\u00adal public offe\u00adring of Mobi\u00adleye; total addressa\u00adble mar\u00adket (TAM<\/span>) and mar\u00adket oppor\u00adtu\u00adni\u00adty; busi\u00adness plans and finan\u00adcial expec\u00adta\u00adti\u00adons; future macroe\u00adco\u00adno\u00admic and geo\u00adpo\u00adli\u00adti\u00adcal con\u00addi\u00adti\u00adons; future legis\u00adla\u00adti\u00adon, inclu\u00adding any expec\u00adta\u00adti\u00adons regar\u00adding anti\u00adci\u00adpa\u00adted finan\u00adcial and other bene\u00adfits or incen\u00adti\u00adves the\u00adreun\u00adder; tax- and accoun\u00adting-rela\u00adted expec\u00adta\u00adti\u00adons; future respon\u00adses to and effects of the COVID-19<\/span> pan\u00adde\u00admic, inclu\u00adding manu\u00adfac\u00adtu\u00adring, trans\u00adpor\u00adta\u00adti\u00adon, and ope\u00adra\u00adtio\u00adnal rest\u00adric\u00adtions or dis\u00adrup\u00adti\u00adons, such as the recent port shut\u00addowns in Chi\u00adna; future pro\u00adducts, tech\u00adno\u00adlo\u00adgy, and ser\u00advices, and the expec\u00adted regu\u00adla\u00adti\u00adon, avai\u00adla\u00adbi\u00adli\u00adty, pro\u00adduc\u00adtion, and bene\u00adfits of such pro\u00adducts, tech\u00adno\u00adlo\u00adgy, and ser\u00advices, inclu\u00adding pro\u00adduct ramps, manu\u00adfac\u00adtu\u00adring goals, plans, time\u00adlines, and future pro\u00adgress, future pro\u00adcess nodes and tech\u00adno\u00adlo\u00adgies inclu\u00adding Intel 20A<\/span>, Rib\u00adbon\u00adFET, and Power\u00adVia, pro\u00adcess per\u00adfor\u00admance pari\u00adty and lea\u00adder\u00adship expec\u00adta\u00adti\u00adons, future pro\u00adduct archi\u00adtec\u00adtures, Alder Lake, Mete\u00ador Lake, Rapid Lake, Sap\u00adphi\u00adre Rapids, and future GPU<\/span> and IPU<\/span> pro\u00adducts; future busi\u00adness, social, and envi\u00adron\u00admen\u00adtal per\u00adfor\u00admance, goals, mea\u00adsu\u00adres, and stra\u00adte\u00adgies; expec\u00adta\u00adti\u00adons regar\u00adding cus\u00adto\u00admers, inclu\u00adding with respect to designs, wins, orders, and part\u00adner\u00adships; pro\u00adjec\u00adtions regar\u00adding com\u00adpe\u00adti\u00adtors; and anti\u00adci\u00adpa\u00adted trends in our busi\u00adnesses or the mar\u00adkets rele\u00advant to them, inclu\u00adding with respect to future demand and indus\u00adtry growth, also iden\u00adti\u00adfy for\u00adward-loo\u00adking state\u00adments. All for\u00adward-loo\u00adking state\u00adments included in this release are based on management\u2019s expec\u00adta\u00adti\u00adons as of the date of this release and, except as requi\u00adred by law, Intel dis\u00adclaims any obli\u00adga\u00adti\u00adon to update the\u00adse for\u00adward-loo\u00adking state\u00adments to reflect future events or cir\u00adcum\u00ads\u00adtances. Unless spe\u00adci\u00adfi\u00adcal\u00adly indi\u00adca\u00adted other\u00adwi\u00adse, the for\u00adward-loo\u00adking state\u00adments in this release do not reflect the poten\u00adti\u00adal impact of any dives\u00adti\u00adtures, mer\u00adgers, acqui\u00adsi\u00adti\u00adons, or other busi\u00adness com\u00adbi\u00adna\u00adti\u00adons that have not been com\u00adple\u00adted as of the date of this pre\u00adsen\u00adta\u00adti\u00adon. For\u00adward-loo\u00adking state\u00adments invol\u00adve many risks and uncer\u00adtain\u00adties that could cau\u00adse actu\u00adal results to dif\u00adfer mate\u00adri\u00adal\u00adly from tho\u00adse expres\u00adsed or impli\u00aded in such state\u00adments. Intel pre\u00adsent\u00adly con\u00adsiders the fol\u00adlo\u00adwing to be among the important fac\u00adtors that can cau\u00adse actu\u00adal results to dif\u00adfer mate\u00adri\u00adal\u00adly from the company\u2019s expectations.<\/p>\n

\u25aaDemand for Intel\u2019s pro\u00adducts is high\u00adly varia\u00adble and can dif\u00adfer from expec\u00adta\u00adti\u00adons due to fac\u00adtors inclu\u00adding chan\u00adges in busi\u00adness and eco\u00adno\u00admic con\u00addi\u00adti\u00adons; cus\u00adto\u00admer con\u00adfi\u00addence or inco\u00adme levels, and the levels of cus\u00adto\u00admer capi\u00adtal spen\u00adding; the intro\u00adduc\u00adtion, avai\u00adla\u00adbi\u00adli\u00adty, and mar\u00adket accep\u00adtance of Intel\u2019s pro\u00adducts, pro\u00adducts used tog\u00ade\u00adther with Intel pro\u00adducts, and com\u00adpe\u00adti\u00adtors\u2019 pro\u00adducts; com\u00adpe\u00adti\u00adti\u00adve and pri\u00adcing pres\u00adsu\u00adres, inclu\u00adding actions taken by com\u00adpe\u00adti\u00adtors; sup\u00adp\u00adly cons\u00adtraints and other dis\u00adrup\u00adti\u00adons affec\u00adting cus\u00adto\u00admers; chan\u00adges in cus\u00adto\u00admer order pat\u00adterns or fore\u00adcasts inclu\u00adding order can\u00adcel\u00adla\u00adti\u00adons; chan\u00adges in cus\u00adto\u00admer needs and emer\u00adging tech\u00adno\u00adlo\u00adgy trends; and chan\u00adges in the level of inven\u00adto\u00adry and com\u00adpu\u00adting capa\u00adci\u00adty at customers.<\/p>\n

\u25aaIntel\u2019s results can vary signi\u00adfi\u00adcant\u00adly from expec\u00adta\u00adti\u00adons based on capa\u00adci\u00adty uti\u00adliza\u00adti\u00adon; varia\u00adti\u00adons in inven\u00adto\u00adry valua\u00adti\u00adon, inclu\u00adding varia\u00adti\u00adons rela\u00adted to the timing of qua\u00adli\u00adfy\u00ading pro\u00adducts for sale; chan\u00adges in reve\u00adnue levels; seg\u00adment pro\u00adduct mix; the timing and exe\u00adcu\u00adti\u00adon of the manu\u00adfac\u00adtu\u00adring ramp and asso\u00adcia\u00adted cos\u00adts; excess or obso\u00adle\u00adte inven\u00adto\u00adry; chan\u00adges in unit cos\u00adts; defects or dis\u00adrup\u00adti\u00adons in the sup\u00adp\u00adly of mate\u00adri\u00adals or resour\u00adces, inclu\u00adding as a result of ongo\u00ading indus\u00adtry shorta\u00adges of com\u00adpon\u00adents and sub\u00adstra\u00adtes; sup\u00adpli\u00aders exten\u00adding lead times, expe\u00adri\u00aden\u00adcing capa\u00adci\u00adty cons\u00adtraints, limi\u00adting or can\u00adce\u00adling sup\u00adp\u00adly, allo\u00adca\u00adting sup\u00adp\u00adly to other cus\u00adto\u00admers inclu\u00adding com\u00adpe\u00adti\u00adtors, delay\u00ading or can\u00adce\u00adling deli\u00adveries or incre\u00adasing pri\u00adces, or other sup\u00adp\u00adly chain issues; pro\u00adduct manu\u00adfac\u00adtu\u00adring quality\/yields; and chan\u00adges in capi\u00adtal requi\u00adre\u00adments and invest\u00adment plans. Varia\u00adti\u00adons in results can also be cau\u00adsed by the timing of Intel pro\u00adduct intro\u00adduc\u00adtions and rela\u00adted expen\u00adses, inclu\u00adding mar\u00adke\u00adting pro\u00adgrams and Intel\u2019s abili\u00adty to respond quick\u00adly to tech\u00adno\u00adlo\u00adgi\u00adcal deve\u00adlo\u00adp\u00adments and to intro\u00addu\u00adce new pro\u00adducts or incor\u00adpo\u00adra\u00adte new fea\u00adtures into exis\u00adting pro\u00adducts, as well as decis\u00adi\u00adons to exit pro\u00adduct lines or busi\u00adnesses, which can result in res\u00adtruc\u00adtu\u00adring and asset impair\u00adment charges.<\/p>\n

\u25aaIntel\u2019s results can be affec\u00adted by adver\u00adse eco\u00adno\u00admic, social, poli\u00adti\u00adcal, regu\u00adla\u00adto\u00adry, and physical\/infrastructure con\u00addi\u00adti\u00adons in count\u00adries whe\u00adre Intel, its cus\u00adto\u00admers or its sup\u00adpli\u00aders ope\u00adra\u00adte, inclu\u00adding reces\u00adsi\u00adon or slo\u00adwing growth, mili\u00adta\u00adry con\u00adflict and other secu\u00adri\u00adty risks, natu\u00adral dis\u00adas\u00adters, infra\u00adstruc\u00adtu\u00adre dis\u00adrup\u00adti\u00adons, health con\u00adcerns (inclu\u00adding the COVID-19<\/span> pan\u00adde\u00admic), fluc\u00adtua\u00adtions in cur\u00adren\u00adcy exch\u00adan\u00adge rates, infla\u00adti\u00adon, inte\u00adrest rate risks, sanc\u00adtions and tariffs, poli\u00adti\u00adcal dis\u00adpu\u00adtes, chan\u00adges in govern\u00adment grants and incen\u00adti\u00adves, and con\u00adti\u00adnuing uncer\u00adtain\u00adty regar\u00adding social, poli\u00adti\u00adcal, immi\u00adgra\u00adti\u00adon, and tax and trade poli\u00adci\u00ades in the U.S. and abroad. Results can also be affec\u00adted by the for\u00admal or infor\u00admal impo\u00adsi\u00adti\u00adon by count\u00adries of new or revi\u00adsed export and\/or import and doing-busi\u00adness regu\u00adla\u00adti\u00adons, inclu\u00adding chan\u00adges or uncer\u00adtain\u00adty rela\u00adted to the U.S. govern\u00adment enti\u00adty list and chan\u00adges in the abili\u00adty to obtain export licen\u00adses, which can be chan\u00adged wit\u00adhout pri\u00ador noti\u00adce. For exam\u00adp\u00adle, in respon\u00adse to Russia\u2019s war with Ukrai\u00adne, num\u00ade\u00adrous count\u00adries and orga\u00adniza\u00adti\u00adons have impo\u00adsed finan\u00adcial and other sanc\u00adtions and export con\u00adtrols against Rus\u00adsia and Bela\u00adrus, while busi\u00adnesses, inclu\u00adding the Com\u00adpa\u00adny, have limi\u00adt\u00aded or sus\u00adpen\u00added Rus\u00adsi\u00adan ope\u00adra\u00adti\u00adons. Rus\u00adsia has like\u00adwi\u00adse impo\u00adsed cur\u00adren\u00adcy rest\u00adric\u00adtions and regu\u00adla\u00adti\u00adons and may fur\u00adther take reta\u00adli\u00ada\u00adto\u00adry trade or other actions, inclu\u00adding the natio\u00adna\u00adliza\u00adti\u00adon of for\u00adeign businesses.<\/p>\n

\u25aaThe COVID-19pan\u00adde\u00admic has pre\u00advious\u00adly adver\u00adse\u00adly affec\u00adted signi\u00adfi\u00adcant por\u00adti\u00adons of Intel\u2019s busi\u00adness and could have a mate\u00adri\u00adal adver\u00adse effect on Intel\u2019s finan\u00adcial con\u00addi\u00adti\u00adon and results of ope\u00adra\u00adti\u00adons. The pan\u00adde\u00admic has resul\u00adted in aut\u00adho\u00adri\u00adties impo\u00adsing num\u00ade\u00adrous mea\u00adsu\u00adres to try to con\u00adtain the virus, inclu\u00adding manu\u00adfac\u00adtu\u00adring, trans\u00adpor\u00adta\u00adti\u00adon, and ope\u00adra\u00adtio\u00adnal rest\u00adric\u00adtions or dis\u00adrup\u00adti\u00adons, such as the recent Shang\u00adhai port shut\u00addown. The\u00adse mea\u00adsu\u00adres have impac\u00adted and may fur\u00adther impact our work\u00adforce and ope\u00adra\u00adti\u00adons, the ope\u00adra\u00adti\u00adons of our cus\u00adto\u00admers, and tho\u00adse of our respec\u00adti\u00adve ven\u00addors, sup\u00adpli\u00aders, and part\u00adners. Rest\u00adric\u00adtions on our manu\u00adfac\u00adtu\u00adring or sup\u00adport ope\u00adra\u00adti\u00adons or work\u00adforce, or simi\u00adlar limi\u00adta\u00adti\u00adons for our ven\u00addors and sup\u00adpli\u00aders, can impact our abili\u00adty to meet cus\u00adto\u00admer demand and could have a mate\u00adri\u00adal adver\u00adse effect on us. Rest\u00adric\u00adtions or dis\u00adrup\u00adti\u00adons of trans\u00adpor\u00adta\u00adti\u00adon, or dis\u00adrup\u00adti\u00adons in our cus\u00adto\u00admers\u2019 ope\u00adra\u00adti\u00adons and sup\u00adp\u00adly chains, may adver\u00adse\u00adly affect our results of ope\u00adra\u00adti\u00adons. The pan\u00adde\u00admi\u00adchas cau\u00adsed us to modi\u00adfy our busi\u00adness prac\u00adti\u00adces. The\u00adre is no cer\u00adtain\u00adty that such mea\u00adsu\u00adres will be suf\u00adfi\u00adci\u00adent to miti\u00adga\u00adte the risks posed by the virus, and ill\u00adness and work\u00adforce dis\u00adrup\u00adti\u00adons could lead to unavai\u00adla\u00adbi\u00adli\u00adty of our key per\u00adson\u00adnel and harm our abili\u00adty to per\u00adform cri\u00adti\u00adcal func\u00adtions. The pan\u00adde\u00admic has signi\u00adfi\u00adcant\u00adly increased eco\u00adno\u00admic and demand uncer\u00adtain\u00adty. Demand for our pro\u00adducts has been and could again be mate\u00adri\u00adal\u00adly har\u00admed in the future. The pan\u00adde\u00admic could lead to increased dis\u00adrup\u00adti\u00adon and vola\u00adti\u00adli\u00adty in capi\u00adtal mar\u00adkets and cre\u00addit mar\u00adkets, which could adver\u00adse\u00adly affect our liqui\u00addi\u00adty and capi\u00adtal resour\u00adces. The degree to which\u00adCO\u00adVID-19im\u00adpacts our results will depend on future deve\u00adlo\u00adp\u00adments, which are high\u00adly uncer\u00adtain. The impact of the pan\u00adde\u00admic can also exa\u00adcer\u00adba\u00adte other risks dis\u00adcus\u00adsed in this section.<\/p>\n

\u25aaIntel ope\u00adra\u00adtes in high\u00adly com\u00adpe\u00adti\u00adti\u00adve indus\u00adtries and its ope\u00adra\u00adti\u00adons have high cos\u00adts that are eit\u00adher fixed or dif\u00adfi\u00adcult to redu\u00adce in the short term. In addi\u00adti\u00adon, we have ente\u00adred new are\u00adas and intro\u00addu\u00adced adja\u00adcent pro\u00adducts, such as our inten\u00adti\u00adon to beco\u00adme a major pro\u00advi\u00adder of foundry ser\u00advices, and we face new sources of com\u00adpe\u00adti\u00adti\u00adon and uncer\u00adtain mar\u00adket demand or accep\u00adtance of our offe\u00adrings with respect to the\u00adse new are\u00adas and pro\u00adducts, and they do not always grow as projected.<\/p>\n

\u25aaIntel\u2019s expec\u00adted tax rate is based on cur\u00adrent tax law, inclu\u00adding cur\u00adrent inter\u00adpre\u00adta\u00adti\u00adons of the Tax Cuts and Jobs Act of 2017 (TCJA<\/span>), and cur\u00adrent expec\u00adted inco\u00adme and can be affec\u00adted by chan\u00adges in inter\u00adpre\u00adta\u00adti\u00adons of TCJA<\/span> and other laws; chan\u00adges in the volu\u00adme and mix of pro\u00adfits ear\u00adned and loca\u00adti\u00adon of assets across juris\u00addic\u00adtions with vary\u00ading tax rates; chan\u00adges in the esti\u00adma\u00adtes of cre\u00addits, bene\u00adfits, and deduc\u00adtions; the reso\u00adlu\u00adti\u00adon of issues ari\u00adsing from tax audits with various tax aut\u00adho\u00adri\u00adties, inclu\u00adding pay\u00adment of inte\u00adrest and pen\u00adal\u00adties; and the abili\u00adty to rea\u00adli\u00adze defer\u00adred tax assets.<\/p>\n

\u25aaIntel\u2019s results can be affec\u00adted by gains or los\u00adses from equi\u00adty secu\u00adri\u00adties and inte\u00adrest and other, which can vary depen\u00adding on gains or los\u00adses on the chan\u00adge in fair value, sale, exch\u00adan\u00adge, or impairm\u00adents of equi\u00adty and debt invest\u00adments, inte\u00adrest rates, cash balan\u00adces, and chan\u00adges in fair value of deri\u00adva\u00adti\u00adve instruments.<\/p>\n

\u25aaPro\u00adduct defects or erra\u00adta (devia\u00adti\u00adons from published spe\u00adci\u00adfi\u00adca\u00adti\u00adons) can adver\u00adse\u00adly impact our expen\u00adses, reve\u00adnues, and reputation.<\/p>\n

\u25aaWe or third par\u00adties regu\u00adlar\u00adly iden\u00adti\u00adfy secu\u00adri\u00adty vul\u00adnerabi\u00adli\u00adties with respect to our pro\u00adces\u00adsors and other pro\u00adducts as well as the ope\u00adra\u00adting sys\u00adtems and workloads run\u00adning on them. Secu\u00adri\u00adty vul\u00adnerabi\u00adli\u00adties and any limi\u00adta\u00adti\u00adons of, or adver\u00adse effects resul\u00adting from, miti\u00adga\u00adti\u00adon tech\u00adni\u00adques can adver\u00adse\u00adly affect our results of ope\u00adra\u00adti\u00adons, finan\u00adcial con\u00addi\u00adti\u00adon, cus\u00adto\u00admer rela\u00adti\u00adonships, pro\u00ads\u00adpects, and repu\u00adta\u00adti\u00adon in a num\u00adber of ways, any of which may be mate\u00adri\u00adal, inclu\u00adding incur\u00adring signi\u00adfi\u00adcant cos\u00adts rela\u00adted to deve\u00adlo\u00adping and deploy\u00ading updates and miti\u00adga\u00adti\u00adons, wri\u00adting down inven\u00adto\u00adry value, a reduc\u00adtion in the com\u00adpe\u00adti\u00adti\u00adve\u00adness of our pro\u00adducts, defen\u00adding against pro\u00adduct claims and liti\u00adga\u00adti\u00adon, respon\u00adding to regu\u00adla\u00adto\u00adry inqui\u00adries or actions, pay\u00ading dama\u00adges, addres\u00adsing cus\u00adto\u00admer satis\u00adfac\u00adtion con\u00adside\u00adra\u00adti\u00adons, or taking other reme\u00addi\u00adal steps with respect to third par\u00adties. Adver\u00adse publi\u00adci\u00adty about secu\u00adri\u00adty vul\u00adnerabi\u00adli\u00adties or miti\u00adga\u00adti\u00adons could dama\u00adge our repu\u00adta\u00adti\u00adon with cus\u00adto\u00admers or users and redu\u00adce demand for our pro\u00adducts and services.<\/p>\n

\u25aaCyber\u00adse\u00adcu\u00adri\u00adty inci\u00addents, whe\u00adther or not suc\u00adcessful, can affect Intel\u2019s results by caus\u00ading us to incur signi\u00adfi\u00adcant cos\u00adts or dis\u00adrupt\u00ading our ope\u00adra\u00adti\u00adons or tho\u00adse of our cus\u00adto\u00admers and sup\u00adpli\u00aders, and can result in repu\u00adta\u00adtio\u00adnal harm.<\/p>\n

\u25aaIntel\u2019s results can be affec\u00adted by liti\u00adga\u00adti\u00adon or regu\u00adla\u00adto\u00adry mat\u00adters invol\u00adving intellec\u00adtu\u00adal pro\u00adper\u00adty, stock\u00adhol\u00adder, con\u00adsu\u00admer, anti\u00adtrust, com\u00admer\u00adcial, dis\u00adclo\u00adsure, and other issues, as well as by the impact and timing of sett\u00adle\u00adments and dis\u00adpu\u00adte reso\u00adlu\u00adti\u00adons. For exam\u00adp\u00adle, in the first quar\u00adter of 2022, the Gene\u00adral Court in the Euro\u00adpean Com\u00admis\u00adsi\u00adon (EC<\/span>) com\u00adpe\u00adti\u00adti\u00adon mat\u00adter annul\u00adled the EC<\/span>\u2019s fin\u00addings against Intel regar\u00adding reba\u00adtes, as well as the fine pre\u00advious\u00adly impo\u00adsed on and paid by Intel. $1.2 bil\u00adli\u00adon was retur\u00adned to Intel in Febru\u00adary, and the EC<\/span> has appea\u00adled this decis\u00adi\u00adon to the Court of Justice.<\/p>\n

\u25aaIntel\u2019s results can be affec\u00adted by the impact and timing of clo\u00adsing of acqui\u00adsi\u00adti\u00adons, dives\u00adti\u00adtures, and other signi\u00adfi\u00adcant tran\u00adsac\u00adtions, such as the pen\u00adding acqui\u00adsi\u00adti\u00adon of Tower Semi\u00adcon\u00adduc\u00adtor Inc. and the pro\u00adpo\u00adsed initi\u00adal public offe\u00adring of Mobi\u00adleye. In addi\u00adti\u00adon, the\u00adse tran\u00adsac\u00adtions do not always achie\u00adve our finan\u00adcial or stra\u00adte\u00adgic objec\u00adti\u00adves and can dis\u00adrupt our ongo\u00ading busi\u00adness and adver\u00adse\u00adly impact our results of ope\u00adra\u00adti\u00adons. We may not rea\u00adli\u00adze the expec\u00adted bene\u00adfits of port\u00adfo\u00adlio decis\u00adi\u00adons due to num\u00ade\u00adrous risks, inclu\u00adding unfa\u00advorable pri\u00adces and terms; chan\u00adges in mar\u00adket con\u00addi\u00adti\u00adons; limi\u00adta\u00adti\u00adons due to regu\u00adla\u00adto\u00adry or govern\u00admen\u00adtal appr\u00adovals, con\u00adtrac\u00adtu\u00adal terms, or other con\u00addi\u00adti\u00adons; and poten\u00adti\u00adal con\u00adtin\u00adued finan\u00adcial obli\u00adga\u00adti\u00adons asso\u00adcia\u00adted with such tran\u00adsac\u00adtions. Risks and uncer\u00adtain\u00adties rela\u00adting to the sale of our NAND<\/span> memo\u00adry busi\u00adness to SK<\/span> hynix are descri\u00adbed in our Form 10\u2011K filed with the SEC<\/span> on Janu\u00adary 22, 2021.<\/p>\n

Detail\u00aded infor\u00adma\u00adti\u00adon regar\u00adding the\u00adse and other fac\u00adtors that could affect Intel\u2019s busi\u00adness and results is included in Intel\u2019s SEC<\/span> filings, inclu\u00adding the company\u2019s most recent reports on Forms 10\u2011K and 10\u2011Q, par\u00adti\u00adcu\u00adlar\u00adly the \u201cRisk Fac\u00adtors\u201d sec\u00adtions of tho\u00adse reports. Copies of the\u00adse filings may be obtai\u00adned by visi\u00adting our Inves\u00adtor Rela\u00adti\u00adons web\u00adsite atwww.intc.comor the SEC<\/span>\u2019s web\u00adsite atwww.sec.gov.<\/p>\n

About Intel<\/u><\/p>\n

Intel (Nasdaq: INTC<\/span>) is an indus\u00adtry lea\u00adder, crea\u00adting world-chan\u00adging tech\u00adno\u00adlo\u00adgy that enables glo\u00adbal pro\u00adgress and enri\u00adches lives. Inspi\u00adred by Moore\u2019s Law, we con\u00adti\u00adnuous\u00adly work to advan\u00adce the design and manu\u00adfac\u00adtu\u00adring of semi\u00adcon\u00adduc\u00adtors to help address our cus\u00adto\u00admers\u2019 grea\u00adtest chal\u00adlenges. By embed\u00adding intel\u00adli\u00adgence in the cloud, net\u00adwork, edge and every kind of com\u00adpu\u00adting device, we unleash the poten\u00adti\u00adal of data to trans\u00adform busi\u00adness and socie\u00adty for the bet\u00adter. To learn more about Intel\u2019s inno\u00adva\u00adtions, go tonewsroom.intel.comandintel.com.<\/p>\n

\u00a9 Intel Cor\u00adpo\u00adra\u00adti\u00adon. Intel, the Intel logo, and other Intel marks are trade\u00admarks of Intel Cor\u00adpo\u00adra\u00adti\u00adon or its sub\u00adsi\u00addia\u00adries. Other names and brands may be clai\u00admed as the pro\u00adper\u00adty of others.<\/p>\n

 <\/p>\n

 <\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Con\u00adso\u00adli\u00adda\u00adted Con\u00adden\u00adsed State\u00adments of Inco\u00adme and Other Information<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nThree Months Ended<\/strong><\/b><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons, Except Per Share Amounts; unaudited)<\/strong><\/b><\/td>\n <\/td>\nJul 2, 2022<\/strong><\/b><\/td>\n <\/td>\nJun 26, 2021<\/strong><\/b><\/td>\n<\/tr>\n
Net reve\u00adnue<\/strong><\/b><\/td>\n <\/td>\n$ 15,321<\/strong><\/b><\/td>\n <\/td>\n$ 19,631<\/strong><\/b><\/td>\n<\/tr>\n
Cost of sales<\/td>\n <\/td>\n9,734<\/td>\n <\/td>\n8,425<\/td>\n<\/tr>\n
Gross mar\u00adgin<\/strong><\/b><\/td>\n <\/td>\n 5,587<\/strong><\/b><\/td>\n <\/td>\n 11,206<\/strong><\/b><\/td>\n<\/tr>\n
Rese\u00adarch and development<\/td>\n <\/td>\n4,400<\/td>\n <\/td>\n3,715<\/td>\n<\/tr>\n
Mar\u00adke\u00adting, gene\u00adral and administrative<\/td>\n <\/td>\n1,800<\/td>\n <\/td>\n1,599<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n87<\/td>\n <\/td>\n346<\/td>\n<\/tr>\n
Ope\u00adra\u00adting expenses<\/strong><\/b><\/td>\n <\/td>\n 6,287<\/strong><\/b><\/td>\n <\/td>\n 5,660<\/strong><\/b><\/td>\n<\/tr>\n
Ope\u00adra\u00adting inco\u00adme (loss)<\/strong><\/b><\/td>\n <\/td>\n (700)<\/strong><\/b><\/td>\n <\/td>\n 5,546<\/strong><\/b><\/td>\n<\/tr>\n
Gains (los\u00adses) on equi\u00adty invest\u00adments, net<\/td>\n <\/td>\n(90)<\/td>\n <\/td>\n295<\/td>\n<\/tr>\n
Inte\u00adrest and other, net<\/td>\n <\/td>\n(119)<\/td>\n <\/td>\n(96)<\/td>\n<\/tr>\n
Inco\u00adme (loss) befo\u00adre taxes<\/strong><\/b><\/td>\n <\/td>\n (909)<\/strong><\/b><\/td>\n <\/td>\n 5,745<\/strong><\/b><\/td>\n<\/tr>\n
Pro\u00advi\u00adsi\u00adon for (bene\u00adfit from) taxes<\/td>\n <\/td>\n(455)<\/td>\n <\/td>\n684<\/td>\n<\/tr>\n
Net inco\u00adme (loss)<\/strong><\/b><\/td>\n <\/td>\n$ (454)<\/strong><\/b><\/td>\n <\/td>\n$ 5,061<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Ear\u00adnings (loss) per share\u2014basic<\/strong><\/b><\/td>\n <\/td>\n$ (0.11)<\/strong><\/b><\/td>\n <\/td>\n$ 1.25<\/strong><\/b><\/td>\n<\/tr>\n
Ear\u00adnings (loss) per share\u2014diluted<\/strong><\/b><\/td>\n <\/td>\n$ (0.11)<\/strong><\/b><\/td>\n <\/td>\n$ 1.24<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Weigh\u00adted avera\u00adge shares of com\u00admon stock outstanding:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Basic<\/strong><\/b><\/td>\n <\/td>\n 4,100<\/strong><\/b><\/td>\n <\/td>\n 4,049<\/strong><\/b><\/td>\n<\/tr>\n
Diluted<\/strong><\/b><\/td>\n <\/td>\n 4,100<\/strong><\/b><\/td>\n <\/td>\n 4,084<\/strong><\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nThree Months Ended<\/strong><\/b><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons)<\/strong><\/b><\/td>\n <\/td>\nJul 2, 2022<\/strong><\/b><\/td>\n <\/td>\nJun 26, 2021<\/strong><\/b><\/td>\n<\/tr>\n
Ear\u00adnings per share of com\u00admon stock information:<\/strong><\/b><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Weigh\u00adted avera\u00adge shares of com\u00admon stock outstanding\u2014basic<\/strong><\/b><\/td>\n <\/td>\n 4,100<\/strong><\/b><\/td>\n <\/td>\n 4,049<\/strong><\/b><\/td>\n<\/tr>\n
Dilu\u00adti\u00adve effect of employee equi\u00adty incen\u00adti\u00adve plans<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n35<\/td>\n<\/tr>\n
Weigh\u00adted avera\u00adge shares of com\u00admon stock outstanding\u2014diluted<\/strong><\/b><\/td>\n <\/td>\n 4,100<\/strong><\/b><\/td>\n <\/td>\n 4,084<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Other infor\u00adma\u00adti\u00adon:<\/strong><\/b><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Employees (in thousands)<\/td>\n <\/td>\n128.2<\/td>\n <\/td>\n113.7<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Con\u00adso\u00adli\u00adda\u00adted Con\u00adden\u00adsed Balan\u00adce Sheets<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
(In Mil\u00adli\u00adons; Unaudited)<\/strong><\/b><\/td>\n <\/td>\nJul 2, 2022<\/strong><\/b><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/b><\/td>\n<\/tr>\n
Assets<\/strong><\/b><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cur\u00adrent assets:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n <\/td>\n$ 4,390<\/td>\n <\/td>\n$ 4,827<\/td>\n<\/tr>\n
Short-term invest\u00adments<\/td>\n <\/td>\n22,654<\/td>\n <\/td>\n24,426<\/td>\n<\/tr>\n
Accounts receiva\u00adble<\/td>\n <\/td>\n6,063<\/td>\n <\/td>\n9,457<\/td>\n<\/tr>\n
Invent\u00adories<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Raw mate\u00adri\u00adals<\/td>\n <\/td>\n1,587<\/td>\n <\/td>\n1,441<\/td>\n<\/tr>\n
Work in process<\/td>\n <\/td>\n6,164<\/td>\n <\/td>\n6,656<\/td>\n<\/tr>\n
Finis\u00adhed goods<\/td>\n <\/td>\n4,423<\/td>\n <\/td>\n2,679<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n 12,174<\/strong><\/b><\/td>\n <\/td>\n 10,776<\/strong><\/b><\/td>\n<\/tr>\n
Assets held for sale<\/td>\n <\/td>\n32<\/td>\n <\/td>\n6,942<\/td>\n<\/tr>\n
Other cur\u00adrent assets<\/td>\n <\/td>\n5,275<\/td>\n <\/td>\n2,130<\/td>\n<\/tr>\n
Total cur\u00adrent assets<\/strong><\/b><\/td>\n <\/td>\n 50,588<\/strong><\/b><\/td>\n <\/td>\n 58,558<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Pro\u00adper\u00adty, plant and equip\u00adment, net<\/strong><\/b><\/td>\n <\/td>\n 71,660<\/strong><\/b><\/td>\n <\/td>\n 63,245<\/strong><\/b><\/td>\n<\/tr>\n
Equi\u00adty investments<\/strong><\/b><\/td>\n <\/td>\n 5,929<\/strong><\/b><\/td>\n <\/td>\n 6,298<\/strong><\/b><\/td>\n<\/tr>\n
Good\u00adwill<\/strong><\/b><\/td>\n <\/td>\n 27,587<\/strong><\/b><\/td>\n <\/td>\n 26,963<\/strong><\/b><\/td>\n<\/tr>\n
Iden\u00adti\u00adfied intan\u00adgi\u00adble assets, net<\/strong><\/b><\/td>\n <\/td>\n 6,427<\/strong><\/b><\/td>\n <\/td>\n 7,270<\/strong><\/b><\/td>\n<\/tr>\n
Other long-term assets<\/strong><\/b><\/td>\n <\/td>\n 8,227<\/strong><\/b><\/td>\n <\/td>\n 6,072<\/strong><\/b><\/td>\n<\/tr>\n
Total assets<\/strong><\/b><\/td>\n <\/td>\n$ 170,418<\/strong><\/b><\/td>\n <\/td>\n$ 168,406<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Lia\u00adbi\u00adli\u00adties<\/strong><\/b><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cur\u00adrent liabilities<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Short-term debt<\/td>\n <\/td>\n$ 2,882<\/td>\n <\/td>\n$ 4,591<\/td>\n<\/tr>\n
Accounts paya\u00adble<\/td>\n <\/td>\n7,945<\/td>\n <\/td>\n5,747<\/td>\n<\/tr>\n
Accrued com\u00adpen\u00adsa\u00adti\u00adon and benefits<\/td>\n <\/td>\n2,730<\/td>\n <\/td>\n4,535<\/td>\n<\/tr>\n
Other accrued liabilities<\/td>\n <\/td>\n13,661<\/td>\n <\/td>\n12,589<\/td>\n<\/tr>\n
Total cur\u00adrent liabilities<\/strong><\/b><\/td>\n <\/td>\n 27,218<\/strong><\/b><\/td>\n <\/td>\n 27,462<\/strong><\/b><\/td>\n<\/tr>\n
Debt<\/strong><\/b><\/td>\n <\/td>\n 32,548<\/strong><\/b><\/td>\n <\/td>\n 33,510<\/strong><\/b><\/td>\n<\/tr>\n
Inco\u00adme taxes payable<\/strong><\/b><\/td>\n <\/td>\n 3,684<\/strong><\/b><\/td>\n <\/td>\n 4,305<\/strong><\/b><\/td>\n<\/tr>\n
Defer\u00adred inco\u00adme taxes<\/strong><\/b><\/td>\n <\/td>\n 572<\/strong><\/b><\/td>\n <\/td>\n 2,667<\/strong><\/b><\/td>\n<\/tr>\n
Other long-term liabilities<\/strong><\/b><\/td>\n <\/td>\n 5,178<\/strong><\/b><\/td>\n <\/td>\n 5,071<\/strong><\/b><\/td>\n<\/tr>\n
Stock\u00adhol\u00adders\u2019 equity<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Com\u00admon stock and capi\u00adtal in excess of par value, 4,106 issued and out\u00adstan\u00adding (4,070 issued and out\u00adstan\u00adding as of Decem\u00adber 25, 2021)<\/td>\n <\/td>\n29,858<\/td>\n <\/td>\n28,006<\/td>\n<\/tr>\n
Accu\u00admu\u00adla\u00adted other com\u00adpre\u00adhen\u00adsi\u00adve inco\u00adme (loss)<\/td>\n <\/td>\n(1,625)<\/td>\n <\/td>\n(880)<\/td>\n<\/tr>\n
Retai\u00adned earnings<\/td>\n <\/td>\n72,985<\/td>\n <\/td>\n68,265<\/td>\n<\/tr>\n
Total stock\u00adhol\u00adders\u2019 equity<\/strong><\/b><\/td>\n <\/td>\n 101,218<\/strong><\/b><\/td>\n <\/td>\n 95,391<\/strong><\/b><\/td>\n<\/tr>\n
Total lia\u00adbi\u00adli\u00adties and stock\u00adhol\u00adders\u2019 equity<\/strong><\/b><\/td>\n <\/td>\n$ 170,418<\/strong><\/b><\/td>\n <\/td>\n$ 168,406<\/strong><\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Con\u00adso\u00adli\u00adda\u00adted Con\u00adden\u00adsed State\u00adments of Cash Flows<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nSix Months Ended<\/strong><\/b><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons; unaudited)<\/strong><\/b><\/td>\n <\/td>\nJul 2, 2022<\/strong><\/b><\/td>\n <\/td>\nJun 26, 2021<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cash and cash equi\u00adva\u00adlents, begin\u00adning of period<\/strong><\/b><\/td>\n <\/td>\n$ 4,827<\/strong><\/b><\/td>\n <\/td>\n$ 5,865<\/strong><\/b><\/td>\n<\/tr>\n
Cash flows pro\u00advi\u00added by (used for) ope\u00adra\u00adting activities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Net inco\u00adme (loss)<\/td>\n <\/td>\n7,659<\/td>\n <\/td>\n8,422<\/td>\n<\/tr>\n
Adjus\u00adt\u00adments to recon\u00adci\u00adle net inco\u00adme to net cash pro\u00advi\u00added by ope\u00adra\u00adting activities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Depre\u00adcia\u00adti\u00adon<\/td>\n <\/td>\n5,528<\/td>\n <\/td>\n4,862<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n1,599<\/td>\n <\/td>\n1,044<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n73<\/td>\n <\/td>\n2,555<\/td>\n<\/tr>\n
Amor\u00adtiza\u00adti\u00adon of intangibles<\/td>\n <\/td>\n968<\/td>\n <\/td>\n897<\/td>\n<\/tr>\n
(Gains) los\u00adses on equi\u00adty invest\u00adments, net<\/td>\n <\/td>\n(4,230)<\/td>\n <\/td>\n(555)<\/td>\n<\/tr>\n
(Gains) los\u00adses on divestitures<\/td>\n <\/td>\n(1,072)<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
Chan\u00adges in assets and liabilities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Accounts receiva\u00adble<\/td>\n <\/td>\n3,397<\/td>\n <\/td>\n(678)<\/td>\n<\/tr>\n
Invent\u00adories<\/td>\n <\/td>\n(1,386)<\/td>\n <\/td>\n(126)<\/td>\n<\/tr>\n
Accounts paya\u00adble<\/td>\n <\/td>\n117<\/td>\n <\/td>\n425<\/td>\n<\/tr>\n
Accrued com\u00adpen\u00adsa\u00adti\u00adon and benefits<\/td>\n <\/td>\n(1,985)<\/td>\n <\/td>\n(836)<\/td>\n<\/tr>\n
Pre\u00adpaid cus\u00adto\u00admer sup\u00adp\u00adly agreements<\/td>\n <\/td>\n(12)<\/td>\n <\/td>\n(1,571)<\/td>\n<\/tr>\n
Inco\u00adme taxes<\/td>\n <\/td>\n(2,232)<\/td>\n <\/td>\n114<\/td>\n<\/tr>\n
Other assets and liabilities<\/td>\n <\/td>\n(1,724)<\/td>\n <\/td>\n(404)<\/td>\n<\/tr>\n
Total adjus\u00adt\u00adments<\/strong><\/b><\/td>\n <\/td>\n (959)<\/strong><\/b><\/td>\n <\/td>\n 5,727<\/strong><\/b><\/td>\n<\/tr>\n
Net cash pro\u00advi\u00added by ope\u00adra\u00adting activities<\/strong><\/b><\/td>\n <\/td>\n 6,700<\/strong><\/b><\/td>\n <\/td>\n 14,149<\/strong><\/b><\/td>\n<\/tr>\n
Cash flows pro\u00advi\u00added by (used for) inves\u00adt\u00ading activities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equipment<\/td>\n <\/td>\n(11,846)<\/td>\n <\/td>\n(7,574)<\/td>\n<\/tr>\n
Addi\u00adti\u00adons to held for sale NAND<\/span> pro\u00adper\u00adty, plant and equipment<\/td>\n <\/td>\n(206)<\/td>\n <\/td>\n(682)<\/td>\n<\/tr>\n
Purcha\u00adses of short-term investments<\/td>\n <\/td>\n(25,514)<\/td>\n <\/td>\n(16,637)<\/td>\n<\/tr>\n
Matu\u00adri\u00adties and sales of short-term investments<\/td>\n <\/td>\n25,407<\/td>\n <\/td>\n15,062<\/td>\n<\/tr>\n
Sales of equi\u00adty investments<\/td>\n <\/td>\n4,775<\/td>\n <\/td>\n149<\/td>\n<\/tr>\n
Pro\u00adceeds from divestitures<\/td>\n <\/td>\n6,579<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
Other inves\u00adt\u00ading<\/td>\n <\/td>\n(1,667)<\/td>\n <\/td>\n768<\/td>\n<\/tr>\n
Net cash used for inves\u00adt\u00ading activities<\/strong><\/b><\/td>\n <\/td>\n (2,472)<\/strong><\/b><\/td>\n <\/td>\n (8,914)<\/strong><\/b><\/td>\n<\/tr>\n
Cash flows pro\u00advi\u00added by (used for) finan\u00adcing activities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Repay\u00adment of debt<\/td>\n <\/td>\n(1,688)<\/td>\n <\/td>\n(500)<\/td>\n<\/tr>\n
Pay\u00adments on finan\u00adce leases<\/td>\n <\/td>\n(299)<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
Pro\u00adceeds from sales of com\u00admon stock through employee equi\u00adty incen\u00adti\u00adve plans<\/td>\n <\/td>\n589<\/td>\n <\/td>\n589<\/td>\n<\/tr>\n
Repurcha\u00adse of com\u00admon stock<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n(2,415)<\/td>\n<\/tr>\n
Pay\u00adment of divi\u00addends to stockholders<\/td>\n <\/td>\n(2,986)<\/td>\n <\/td>\n(2,821)<\/td>\n<\/tr>\n
Other finan\u00adcing<\/td>\n <\/td>\n(281)<\/td>\n <\/td>\n(1,207)<\/td>\n<\/tr>\n
Net cash used for finan\u00adcing activities<\/strong><\/b><\/td>\n <\/td>\n (4,665)<\/strong><\/b><\/td>\n <\/td>\n (6,354)<\/strong><\/b><\/td>\n<\/tr>\n
Net increase (decrease) in cash and cash equivalents<\/strong><\/b><\/td>\n <\/td>\n (437)<\/strong><\/b><\/td>\n <\/td>\n (1,119)<\/strong><\/b><\/td>\n<\/tr>\n
Cash and cash equi\u00adva\u00adlents, end of period<\/strong><\/b><\/td>\n <\/td>\n$ 4,390<\/strong><\/b><\/td>\n <\/td>\n$ 4,746<\/strong><\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Sup\u00adple\u00admen\u00adtal Ope\u00adra\u00adting Seg\u00adment Results<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nThree Months Ended<\/strong><\/b><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons)<\/strong><\/b><\/td>\n <\/td>\nJul 2, 2022<\/strong><\/b><\/td>\n <\/td>\nJun 26, 2021<\/strong><\/b><\/td>\n<\/tr>\n
Ope\u00adra\u00adting seg\u00adment revenue:<\/strong><\/b><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cli\u00adent Computing<\/strong><\/b><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Desk\u00adtop<\/td>\n <\/td>\n$ 2,289<\/td>\n <\/td>\n$ 2,792<\/td>\n<\/tr>\n
Note\u00adbook<\/td>\n <\/td>\n4,751<\/td>\n <\/td>\n6,734<\/td>\n<\/tr>\n
Other<\/td>\n <\/td>\n625<\/td>\n <\/td>\n727<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n 7,665<\/strong><\/b><\/td>\n <\/td>\n 10,253<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Dat\u00ada\u00adcen\u00adter and AI<\/span><\/strong><\/b><\/td>\n <\/td>\n 4,649<\/strong><\/b><\/td>\n <\/td>\n 5,547<\/strong><\/b><\/td>\n<\/tr>\n
Net\u00adwork and Edge<\/strong><\/b><\/td>\n <\/td>\n 2,333<\/strong><\/b><\/td>\n <\/td>\n 2,105<\/strong><\/b><\/td>\n<\/tr>\n
Acce\u00adle\u00adra\u00adted Com\u00adpu\u00adting Sys\u00adtems and Graphics<\/strong><\/b><\/td>\n <\/td>\n 186<\/strong><\/b><\/td>\n <\/td>\n 177<\/strong><\/b><\/td>\n<\/tr>\n
Mobi\u00adleye<\/strong><\/b><\/td>\n <\/td>\n 460<\/strong><\/b><\/td>\n <\/td>\n 327<\/strong><\/b><\/td>\n<\/tr>\n
Intel Foundry Services<\/strong><\/b><\/td>\n <\/td>\n 122<\/strong><\/b><\/td>\n <\/td>\n 264<\/strong><\/b><\/td>\n<\/tr>\n
All other<\/strong><\/b><\/td>\n <\/td>\n 32<\/strong><\/b><\/td>\n <\/td>\n 1,129<\/strong><\/b><\/td>\n<\/tr>\n
Total ope\u00adra\u00adting seg\u00adment revenue<\/strong><\/b><\/td>\n <\/td>\n$ 15,447<\/strong><\/b><\/td>\n <\/td>\n$ 19,802<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Ope\u00adra\u00adting inco\u00adme (loss):<\/strong><\/b><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cli\u00adent Computing<\/strong><\/b><\/td>\n <\/td>\n$ 1,085<\/strong><\/b><\/td>\n <\/td>\n$ 4,029<\/strong><\/b><\/td>\n<\/tr>\n
Dat\u00ada\u00adcen\u00adter and AI<\/span><\/strong><\/b><\/td>\n <\/td>\n 214<\/strong><\/b><\/td>\n <\/td>\n 2,090<\/strong><\/b><\/td>\n<\/tr>\n
Net\u00adwork and Edge<\/strong><\/b><\/td>\n <\/td>\n 241<\/strong><\/b><\/td>\n <\/td>\n 605<\/strong><\/b><\/td>\n<\/tr>\n
Acce\u00adle\u00adra\u00adted Com\u00adpu\u00adting Sys\u00adtems and Graphics<\/strong><\/b><\/td>\n <\/td>\n (507)<\/strong><\/b><\/td>\n <\/td>\n (168)<\/strong><\/b><\/td>\n<\/tr>\n
Mobi\u00adleye<\/strong><\/b><\/td>\n <\/td>\n 190<\/strong><\/b><\/td>\n <\/td>\n 133<\/strong><\/b><\/td>\n<\/tr>\n
Intel Foundry Services<\/strong><\/b><\/td>\n <\/td>\n (155)<\/strong><\/b><\/td>\n <\/td>\n 52<\/strong><\/b><\/td>\n<\/tr>\n
All other<\/strong><\/b><\/td>\n <\/td>\n (1,768)<\/strong><\/b><\/td>\n <\/td>\n (1,195)<\/strong><\/b><\/td>\n<\/tr>\n
Total ope\u00adra\u00adting inco\u00adme (loss)<\/strong><\/b><\/td>\n <\/td>\n$ (700)<\/strong><\/b><\/td>\n <\/td>\n$ 5,546<\/strong><\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The fol\u00adlo\u00adwing table pres\u00adents inter\u00adseg\u00adment reve\u00adnue befo\u00adre eliminations:<\/p>\n\n\n\n\n\n
Total ope\u00adra\u00adting seg\u00adment revenue<\/strong><\/b><\/td>\n <\/td>\n$ 15,447<\/strong><\/b><\/td>\n <\/td>\n$ 19,802<\/strong><\/b><\/td>\n<\/tr>\n
Less: Acce\u00adle\u00adra\u00adted Com\u00adpu\u00adting Sys\u00adtems and Gra\u00adphics inter\u00adseg\u00adment revenue<\/td>\n <\/td>\n(126)<\/td>\n <\/td>\n(171)<\/td>\n<\/tr>\n
Total net revenue<\/strong><\/b><\/td>\n <\/td>\n$ 15,321<\/strong><\/b><\/td>\n <\/td>\n$ 19,631<\/strong><\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

We deri\u00adve a sub\u00adstan\u00adti\u00adal majo\u00adri\u00adty of our reve\u00adnue from our prin\u00adci\u00adpal pro\u00adducts that incor\u00adpo\u00adra\u00adte various com\u00adpon\u00adents and tech\u00adno\u00adlo\u00adgies, inclu\u00adding a micro\u00adpro\u00adces\u00adsor and chip\u00adset, a stand-alo\u00adne SoC, or a mul\u00adti\u00adchip packa\u00adge, which is based on Intel\u2019s architecture.<\/p>\n

Reve\u00adnue for our repor\u00adta\u00adble and non-repor\u00adta\u00adble ope\u00adra\u00adting seg\u00adments is pri\u00adma\u00adri\u00adly rela\u00adted to the fol\u00adlo\u00adwing pro\u00adduct lines:<\/p>\n

\u25aaCCG<\/span> includes pro\u00adducts desi\u00adgned for end-user form fac\u00adtors, focu\u00adsing on hig\u00adher growth seg\u00adments of 2\u2011in\u20111, thin-and-light, com\u00admer\u00adcial and gam\u00ading, and gro\u00adwing other pro\u00adducts such as con\u00adnec\u00adti\u00advi\u00adty and graphics.<\/p>\n

\u25aaDCAI<\/span> includes a broad port\u00adfo\u00adlio of CPUs, domain spe\u00adci\u00adfic acce\u00adle\u00adra\u00adtors, FPGAs and memo\u00adry, desi\u00adgned to empower dat\u00ada\u00adcen\u00adter and hypers\u00adca\u00adle solu\u00adti\u00adons for diver\u00adse com\u00adpu\u00adting needs.<\/p>\n

\u25aaNEX<\/span> includes pro\u00adgramma\u00adble plat\u00adforms and high-per\u00adfor\u00admance con\u00adnec\u00adti\u00advi\u00adty and com\u00adpu\u00adte solu\u00adti\u00adons desi\u00adgned for mar\u00adket seg\u00adments such as cloud net\u00adwor\u00adking, com\u00admu\u00adni\u00adca\u00adti\u00adons net\u00adworks, retail, indus\u00adtri\u00adal, health\u00adca\u00adre, and vision.<\/p>\n

\u25aaAXG<\/span> includes CPUs for high per\u00adfor\u00admance com\u00adpu\u00adting (HPC<\/span>) and GPUs tar\u00adge\u00adted for a ran\u00adge of workloads and plat\u00adforms from gam\u00ading and con\u00adtent crea\u00adti\u00adon to HPC<\/span> and AI<\/span> in the data center.<\/p>\n

\u25aaMobi\u00adleye includes the deve\u00adlo\u00adp\u00adment and deploy\u00adment of advan\u00adced dri\u00adver assis\u00adtance sys\u00adtems (ADAS<\/span>) and auto\u00adno\u00admous dri\u00adving tech\u00adno\u00adlo\u00adgies and solutions.<\/p>\n

\u25aaIFS<\/span> is a ser\u00advices pro\u00advi\u00adder offe\u00adring a com\u00adbi\u00adna\u00adti\u00adon of lea\u00adding-edge pack\u00ada\u00adging and pro\u00adcess tech\u00adno\u00adlo\u00adgy, world-class dif\u00adfe\u00adren\u00adtia\u00adted inter\u00adnal IPs (ie: x86, gra\u00adphics, AI<\/span>), broad 3rd par\u00adty eco\u00adsys\u00adtem and sili\u00adcon design support.<\/p>\n

We have sales and mar\u00adke\u00adting, manu\u00adfac\u00adtu\u00adring, engi\u00adnee\u00adring, finan\u00adce, and admi\u00adnis\u00adtra\u00adti\u00adon groups. Expen\u00adses for the\u00adse groups are gene\u00adral\u00adly allo\u00adca\u00adted to the ope\u00adra\u00adting segments.<\/p>\n

We have an \u201call other\u201d cate\u00adgo\u00adry that includes reve\u00adnue, expen\u00adses, and char\u00adges such as:<\/p>\n

\u25aahis\u00adto\u00adri\u00adcal results of ope\u00adra\u00adti\u00adons from dive\u00ads\u00adted businesses;<\/p>\n

\u25aaresults of ope\u00adra\u00adti\u00adons of start-up busi\u00adnesses that sup\u00adport our initiatives;<\/p>\n

\u25aaamounts included within res\u00adtruc\u00adtu\u00adring and other charges;<\/p>\n

\u25aaemployee bene\u00adfits, com\u00adpen\u00adsa\u00adti\u00adon, impair\u00adment char\u00adges, and other expen\u00adses not allo\u00adca\u00adted to the ope\u00adra\u00adting seg\u00adments (begin\u00adning the first quar\u00adter of 2022, this includes all of our stock-based com\u00adpen\u00adsa\u00adti\u00adon); and<\/p>\n

\u25aaacqui\u00adsi\u00adti\u00adon-rela\u00adted cos\u00adts, inclu\u00adding amor\u00adtiza\u00adti\u00adon and any impair\u00adment of acqui\u00adsi\u00adti\u00adon-rela\u00adted intan\u00adgi\u00adbles and goodwill.<\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Expl\u00adana\u00adti\u00adon of Non-GAAP Measures<\/p>\n

In addi\u00adti\u00adon to dis\u00adclo\u00adsing finan\u00adcial results in accordance with US<\/span> GAAP<\/span>, this docu\u00adment con\u00adta\u00adins refe\u00adren\u00adces to the non-GAAP finan\u00adcial mea\u00adsu\u00adres below. We belie\u00adve the\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres pro\u00advi\u00adde inves\u00adtors with useful sup\u00adple\u00admen\u00adtal infor\u00adma\u00adti\u00adon about our ope\u00adra\u00adting per\u00adfor\u00admance, enable com\u00adpa\u00adri\u00adson of finan\u00adcial trends and results bet\u00adween peri\u00adods whe\u00adre cer\u00adtain items may vary inde\u00adpen\u00addent of busi\u00adness per\u00adfor\u00admance, and allow for grea\u00adter trans\u00adpa\u00adren\u00adcy with respect to key metrics used by manage\u00adment in ope\u00adra\u00adting our busi\u00adness and mea\u00adsu\u00adring our per\u00adfor\u00admance. Cer\u00adtain of the\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres are used in our per\u00adfor\u00admance-based RSUs and our annu\u00adal cash bonus plan.<\/p>\n

Our non-GAAP finan\u00adcial mea\u00adsu\u00adres reflect adjus\u00adt\u00adments based on one or more of the fol\u00adlo\u00adwing items, as well as the rela\u00adted inco\u00adme tax effects whe\u00adre appli\u00adca\u00adble. Inco\u00adme tax effects have been cal\u00adcu\u00adla\u00adted using an appro\u00adpria\u00adte tax rate for each adjus\u00adt\u00adment, as appli\u00adca\u00adble. The\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres should not be con\u00adside\u00adred a sub\u00adsti\u00adtu\u00adte for, or supe\u00adri\u00ador to, finan\u00adcial mea\u00adsu\u00adres cal\u00adcu\u00adla\u00adted in accordance with US<\/span> GAAP<\/span>, and the finan\u00adcial results cal\u00adcu\u00adla\u00adted in accordance with US<\/span> GAAP<\/span> and recon\u00adci\u00adlia\u00adti\u00adons from the\u00adse results should be careful\u00adly evaluated.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Non-GAAP adjus\u00adt\u00adment or measure<\/strong><\/b><\/td>\nDefi\u00adni\u00adti\u00adon<\/strong><\/b><\/td>\nUseful\u00adness to manage\u00adment and investors<\/strong><\/b><\/td>\n<\/tr>\n<\/thead>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\nAmor\u00adtiza\u00adti\u00adon of acqui\u00adsi\u00adti\u00adon-rela\u00adted intan\u00adgi\u00adble assets con\u00adsists of amor\u00adtiza\u00adti\u00adon of intan\u00adgi\u00adble assets such as deve\u00adlo\u00adped tech\u00adno\u00adlo\u00adgy, brands, and cus\u00adto\u00admer rela\u00adti\u00adonships acqui\u00adred in con\u00adnec\u00adtion with busi\u00adness com\u00adbi\u00adna\u00adti\u00adons. Char\u00adges rela\u00adted to the amor\u00adtiza\u00adti\u00adon of the\u00adse intan\u00adgi\u00adbles are recor\u00added within both cost of sales and MG<\/span>&<\/span>A in our US<\/span> GAAP<\/span> finan\u00adcial state\u00adments. Amor\u00adtiza\u00adti\u00adon char\u00adges are recor\u00added over the esti\u00adma\u00adted useful life of the rela\u00adted acqui\u00adred intan\u00adgi\u00adble asset, and thus are gene\u00adral\u00adly recor\u00added over mul\u00adti\u00adple years.<\/td>\nWe exclude amor\u00adtiza\u00adti\u00adon char\u00adges for our acqui\u00adsi\u00adti\u00adon-rela\u00adted intan\u00adgi\u00adble assets for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse the\u00adse char\u00adges are incon\u00adsis\u00adtent in size and are signi\u00adfi\u00adcant\u00adly impac\u00adted by the timing and valua\u00adti\u00adon of our acqui\u00adsi\u00adti\u00adons. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adson to our past ope\u00adra\u00adting per\u00adfor\u00admance and pro\u00advi\u00adde inves\u00adtors with addi\u00adtio\u00adnal means to eva\u00adlua\u00adte cost and expen\u00adse trends.<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\nRes\u00adtruc\u00adtu\u00adring char\u00adges are cos\u00adts asso\u00adcia\u00adted with a for\u00admal res\u00adtruc\u00adtu\u00adring plan and are pri\u00adma\u00adri\u00adly rela\u00adted to employee sever\u00adance and bene\u00adfit arran\u00adge\u00adments. Other char\u00adges include peri\u00adodic good\u00adwill and asset impairm\u00adents, pen\u00adsi\u00adon char\u00adges, and cos\u00adts asso\u00adcia\u00adted with res\u00adtruc\u00adtu\u00adring activity.<\/td>\nWe exclude res\u00adtruc\u00adtu\u00adring and other char\u00adges, inclu\u00adding any adjus\u00adt\u00adments to char\u00adges recor\u00added in pri\u00ador peri\u00adods, for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse the\u00adse cos\u00adts do not reflect our core ope\u00adra\u00adting per\u00adfor\u00admance. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our core ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adsons to past ope\u00adra\u00adting results and pro\u00advi\u00adde inves\u00adtors with addi\u00adtio\u00adnal means to eva\u00adlua\u00adte expen\u00adse trends.<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\nShare-based com\u00adpen\u00adsa\u00adti\u00adon con\u00adsists of char\u00adges rela\u00adted to our employee equi\u00adty incen\u00adti\u00adve plans.<\/td>\nWe exclude char\u00adges rela\u00adted to share-based com\u00adpen\u00adsa\u00adti\u00adon for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse we belie\u00adve the\u00adse adjus\u00adt\u00adments pro\u00advi\u00adde bet\u00adter com\u00adpa\u00adra\u00adbi\u00adli\u00adty to peer com\u00adpa\u00adny results and becau\u00adse the\u00adse char\u00adges are not view\u00aded by manage\u00adment as part of our core ope\u00adra\u00adting per\u00adfor\u00admance. We belie\u00adve the\u00adse adjus\u00adt\u00adments pro\u00advi\u00adde inves\u00adtors with a useful view, through the eyes of manage\u00adment, of our core busi\u00adness model, how manage\u00adment curr\u00adent\u00adly eva\u00adlua\u00adtes core ope\u00adra\u00adtio\u00adnal per\u00adfor\u00admance, and addi\u00adtio\u00adnal means to eva\u00adlua\u00adte expen\u00adse trends, inclu\u00adding in com\u00adpa\u00adri\u00adson to other peer companies.<\/td>\n<\/tr>\n
Patent sett\u00adle\u00adment<\/td>\nA por\u00adti\u00adon of the char\u00adge from our IP<\/span> sett\u00adle\u00adments repres\u00adents a catch-up of cumu\u00adla\u00adti\u00adve amor\u00adtiza\u00adti\u00adon that would have been incur\u00adred for the right to use the rela\u00adted patents in pri\u00ador peri\u00adods. This char\u00adge rela\u00adted to pri\u00ador peri\u00adods is excluded from our non-GAAP results; amor\u00adtiza\u00adti\u00adon rela\u00adted to the right to use the patents in the cur\u00adrent (and ongo\u00ading peri\u00adods) is included.<\/td>\nWe exclude the catch-up char\u00adge rela\u00adted to pri\u00ador peri\u00adods for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse this adjus\u00adt\u00adment faci\u00adli\u00adta\u00adtes com\u00adpa\u00adri\u00adson to past ope\u00adra\u00adting results and pro\u00advi\u00addes a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting performance.<\/td>\n<\/tr>\n
Opta\u00adne inven\u00adto\u00adry impairment<\/td>\nIn Q2<\/span> 2022, we initia\u00adted the win\u00adding down of our Intel Opta\u00adne memo\u00adry business.<\/td>\nWe exclude the\u00adse impairm\u00adents for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse the\u00adse char\u00adges do not reflect our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance. This adjus\u00adt\u00adment faci\u00adli\u00adta\u00adtes a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adsons to past ope\u00adra\u00adting results.<\/td>\n<\/tr>\n
Gains (los\u00adses) from divestiture<\/td>\nGains or los\u00adses are reco\u00adgni\u00adzed at the clo\u00adse of a dives\u00adti\u00adtu\u00adre, or over a spe\u00adci\u00adfied defer\u00adral peri\u00adod when defer\u00adred con\u00adside\u00adra\u00adti\u00adon is recei\u00adved at the time of clo\u00adsing. Based on our ongo\u00ading obli\u00adga\u00adti\u00adon under the NAND<\/span> wafer manu\u00adfac\u00adtu\u00adring and sale agree\u00adment ente\u00adred into in con\u00adnec\u00adtion with the first clo\u00adsing of the sale of our NAND<\/span> memo\u00adry busi\u00adness on Decem\u00adber 29, 2021, a por\u00adti\u00adon of the initi\u00adal clo\u00adsing con\u00adside\u00adra\u00adti\u00adon was defer\u00adred and will be reco\u00adgni\u00adzed bet\u00adween first and second closing.<\/td>\nWe exclude gains or los\u00adses resul\u00adting from dives\u00adti\u00adtures for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse they do not reflect our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adsons to past ope\u00adra\u00adting results.<\/td>\n<\/tr>\n
(Gains) los\u00adses on equi\u00adty invest\u00adments, net<\/td>\n(Gains) los\u00adses on equi\u00adty invest\u00adments, net con\u00adsists of ongo\u00ading mark-to-mar\u00adket adjus\u00adt\u00adments on mar\u00adke\u00adta\u00adble equi\u00adty secu\u00adri\u00adties, obser\u00adva\u00adble pri\u00adce adjus\u00adt\u00adments on non-mar\u00adke\u00adta\u00adble equi\u00adty secu\u00adri\u00adties, rela\u00adted impair\u00adment char\u00adges, and the sale of equi\u00adty invest\u00adments and other.<\/td>\nWe exclude the\u00adse non-ope\u00adra\u00adting ear\u00adnings for bet\u00adter com\u00adpa\u00adra\u00adbi\u00adli\u00adty bet\u00adween peri\u00adods. The exclu\u00adsi\u00adon reflects how manage\u00adment eva\u00adlua\u00adtes the core ope\u00adra\u00adti\u00adons of the business.<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\nWe com\u00adple\u00adted the first clo\u00adsing of the dives\u00adti\u00adtu\u00adre of our NAND<\/span> memo\u00adry busi\u00adness to SK<\/span> hynix on Decem\u00adber 29, 2021 and ful\u00adly decon\u00adso\u00adli\u00adda\u00adted our ongo\u00ading inte\u00adrests in the NAND<\/span> OpCo Busi\u00adness in the first quar\u00adter of 2022.<\/td>\nWe exclude the impact of our NAND<\/span> memo\u00adry busi\u00adness in cer\u00adtain non-GAAP mea\u00adsu\u00adres. While the second clo\u00adsing of the sale is still pen\u00adding and sub\u00adject to clo\u00adsing con\u00addi\u00adti\u00adons, we decon\u00adso\u00adli\u00adda\u00adted this busi\u00adness in Q1<\/span> 2022 and manage\u00adment does not view the his\u00adto\u00adri\u00adcal results of the busi\u00adness as a part of our core ope\u00adra\u00adti\u00adons. We belie\u00adve the\u00adse adjus\u00adt\u00adments pro\u00advi\u00adde inves\u00adtors with a useful view, through the eyes of manage\u00adment, of our core busi\u00adness model and how manage\u00adment curr\u00adent\u00adly eva\u00adlua\u00adtes core ope\u00adra\u00adtio\u00adnal per\u00adfor\u00admance. In making the\u00adse adjus\u00adt\u00adments, we have not made any chan\u00adges to our methods for mea\u00adsu\u00adring and cal\u00adcu\u00adla\u00adting reve\u00adnue or other finan\u00adcial state\u00adment amounts.<\/td>\n<\/tr>\n
Tax Reform<\/td>\nAdjus\u00adt\u00adments for Tax Reform reflect the impact of a chan\u00adge in tax law from 2017 Tax Reform rela\u00adted to the capi\u00adta\u00adliza\u00adti\u00adon of R&<\/span>D costs.<\/td>\nWe exclude the impacts of this 2022 chan\u00adge in U.S. tax tre\u00adat\u00adment of R&<\/span>D cos\u00adts for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres as we belie\u00adve the\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a bet\u00adter eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adson to past ope\u00adra\u00adting results.<\/td>\n<\/tr>\n
Adjus\u00adted free cash flow<\/td>\nWe refe\u00adrence a non-GAAP finan\u00adcial mea\u00adsu\u00adre of adjus\u00adted free cash flow, which is used by manage\u00adment when asses\u00adsing our sources of liqui\u00addi\u00adty, capi\u00adtal resour\u00adces, and qua\u00adli\u00adty of ear\u00adnings. Adjus\u00adted free cash flow is ope\u00adra\u00adting cash flow adjus\u00adted for 1) addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equip\u00adment, net of pro\u00adceeds from capi\u00adtal grants and part\u00adner con\u00adtri\u00adbu\u00adti\u00adons, 2) pay\u00adments on finan\u00adce lea\u00adses, and 3) pro\u00adceeds from the McA\u00adfee equi\u00adty sale.<\/td>\nThis non-GAAP finan\u00adcial mea\u00adsu\u00adre is hel\u00adpful in under\u00adstan\u00adding our capi\u00adtal requi\u00adre\u00adments and sources of liqui\u00addi\u00adty by pro\u00advi\u00adding an addi\u00adtio\u00adnal means to eva\u00adlua\u00adte the cash flow trends of our busi\u00adness. Sin\u00adce the 2017 dives\u00adti\u00adtu\u00adre, McA\u00adfee equi\u00adty dis\u00adtri\u00adbu\u00adti\u00adons and sales have con\u00adtri\u00adbu\u00adted to ope\u00adra\u00adting and free cash flow, and while the McA\u00adfee equi\u00adty sale in Q1<\/span> 2022 would typi\u00adcal\u00adly be excluded from adjus\u00adted free cash flow as an equi\u00adty sale, we belie\u00adve inclu\u00adding the sale pro\u00adceeds in adjus\u00adted free cash flow faci\u00adli\u00adta\u00adte a bet\u00adter, more con\u00adsis\u00adtent com\u00adpa\u00adri\u00adson to past pre\u00adsen\u00adta\u00adti\u00adons of liquidity.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Sup\u00adple\u00admen\u00adtal Recon\u00adci\u00adlia\u00adti\u00adons of GAAP<\/span> Actu\u00adals to Non-GAAP Actuals<\/p>\n

Set forth below are recon\u00adci\u00adlia\u00adti\u00adons of the non-GAAP finan\u00adcial mea\u00adsu\u00adre to the most direct\u00adly com\u00adpa\u00adra\u00adble U.S. GAAP<\/span> finan\u00adcial mea\u00adsu\u00adre. The\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres should not be con\u00adside\u00adred a sub\u00adsti\u00adtu\u00adte for, or supe\u00adri\u00ador to, finan\u00adcial mea\u00adsu\u00adres cal\u00adcu\u00adla\u00adted in accordance with U.S. GAAP<\/span>, and the recon\u00adci\u00adlia\u00adti\u00adons from U.S. GAAP<\/span> to Non-GAAP actu\u00adals should be careful\u00adly eva\u00adlua\u00adted. Plea\u00adse refer to \u201cExpl\u00adana\u00adti\u00adon of Non-GAAP Mea\u00adsu\u00adres\u201d in this docu\u00adment for a detail\u00aded expl\u00adana\u00adti\u00adon of the adjus\u00adt\u00adments made to the com\u00adpa\u00adra\u00adble U.S. GAAP<\/span> mea\u00adsu\u00adres, the ways manage\u00adment uses the non-GAAP mea\u00adsu\u00adres, and the reasons why manage\u00adment belie\u00adves the non-GAAP mea\u00adsu\u00adres pro\u00advi\u00adde useful infor\u00adma\u00adti\u00adon for investors.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nThree Months Ended<\/strong><\/b><\/td>\n<\/tr>\n<\/thead>\n
(In Mil\u00adli\u00adons, Except Per Share Amounts)<\/strong><\/b><\/td>\n <\/td>\nJul 2, 2022<\/strong><\/b><\/td>\n <\/td>\nJun 26, 2021<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> net revenue<\/strong><\/b><\/td>\n <\/td>\n$ 15,321<\/strong><\/b><\/td>\n <\/td>\n$ 19,631<\/strong><\/b><\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n(1,098)<\/td>\n<\/tr>\n
Non-GAAP net revenue<\/strong><\/b><\/td>\n <\/td>\n$ 15,321<\/strong><\/b><\/td>\n <\/td>\n$ 18,533<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> gross margin<\/strong><\/b><\/td>\n <\/td>\n$ 5,587<\/strong><\/b><\/td>\n <\/td>\n$ 11,206<\/strong><\/b><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n329<\/td>\n <\/td>\n314<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n188<\/td>\n <\/td>\n106<\/td>\n<\/tr>\n
Patent sett\u00adle\u00adment<\/td>\n <\/td>\n204<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
Opta\u00adne inven\u00adto\u00adry impairment<\/td>\n <\/td>\n559<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n(544)<\/td>\n<\/tr>\n
Non-GAAP gross margin<\/strong><\/b><\/td>\n <\/td>\n$ 6,867<\/strong><\/b><\/td>\n <\/td>\n$ 11,082<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> gross mar\u00adgin percentage<\/strong><\/b><\/td>\n <\/td>\n36.5 %<\/strong><\/b><\/td>\n <\/td>\n57.1 %<\/strong><\/b><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n2.2 %<\/td>\n <\/td>\n1.6 %<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n1.2 %<\/td>\n <\/td>\n0.5 %<\/td>\n<\/tr>\n
Patent sett\u00adle\u00adment<\/td>\n <\/td>\n1.3 %<\/td>\n <\/td>\n\u2014 %<\/td>\n<\/tr>\n
Opta\u00adne inven\u00adto\u00adry impairment<\/td>\n <\/td>\n3.6 %<\/td>\n <\/td>\n\u2014 %<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n\u2014 %<\/td>\n <\/td>\n0.5 %<\/td>\n<\/tr>\n
Non-GAAP gross mar\u00adgin per\u00adcen\u00adta\u00adge1<\/sup><\/strong><\/b><\/td>\n <\/td>\n44.8 %<\/strong><\/b><\/td>\n <\/td>\n59.8 %<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> R&<\/span>D and MG<\/span>&<\/span>A<\/strong><\/b><\/td>\n <\/td>\n$ 6,200<\/strong><\/b><\/td>\n <\/td>\n$ 5,314<\/strong><\/b><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n(48)<\/td>\n <\/td>\n(52)<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n(702)<\/td>\n <\/td>\n(513)<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n(142)<\/td>\n<\/tr>\n
Non-GAAP R&<\/span>D and MG<\/span>&<\/span>A<\/strong><\/b><\/td>\n <\/td>\n$ 5,450<\/strong><\/b><\/td>\n <\/td>\n$ 4,607<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> ope\u00adra\u00adting inco\u00adme (loss)<\/strong><\/b><\/td>\n <\/td>\n$ (700)<\/strong><\/b><\/td>\n <\/td>\n$ 5,546<\/strong><\/b><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n377<\/td>\n <\/td>\n366<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n87<\/td>\n <\/td>\n346<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n890<\/td>\n <\/td>\n619<\/td>\n<\/tr>\n
Patent sett\u00adle\u00adment<\/td>\n <\/td>\n204<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
Opta\u00adne inven\u00adto\u00adry impairment<\/td>\n <\/td>\n559<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n(402)<\/td>\n<\/tr>\n
Non-GAAP ope\u00adra\u00adting income<\/strong><\/b><\/td>\n <\/td>\n$ 1,417<\/strong><\/b><\/td>\n <\/td>\n$ 6,475<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> ope\u00adra\u00adting margin<\/strong><\/b><\/td>\n <\/td>\n(4.6) %<\/strong><\/b><\/td>\n <\/td>\n28.3 %<\/strong><\/b><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n2.5 %<\/td>\n <\/td>\n1.9 %<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n0.6 %<\/td>\n <\/td>\n1.8 %<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n5.8 %<\/td>\n <\/td>\n3.2 %<\/td>\n<\/tr>\n
Patent sett\u00adle\u00adment<\/td>\n <\/td>\n1.3 %<\/td>\n <\/td>\n\u2014 %<\/td>\n<\/tr>\n
Opta\u00adne inven\u00adto\u00adry impairment<\/td>\n <\/td>\n3.6 %<\/td>\n <\/td>\n\u2014 %<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n\u2014 %<\/td>\n <\/td>\n(0.3) %<\/td>\n<\/tr>\n
Non-GAAP ope\u00adra\u00adting mar\u00adgin1<\/sup><\/strong><\/b><\/td>\n <\/td>\n9.2 %<\/strong><\/b><\/td>\n <\/td>\n34.9 %<\/strong><\/b><\/td>\n<\/tr>\n
1<\/sup>Our recon\u00adci\u00adlia\u00adti\u00adons of GAAP<\/span> to non-GAAP pri\u00ador year gross mar\u00adgin and ope\u00adra\u00adting mar\u00adgin per\u00adcen\u00adta\u00adge reflect the exclu\u00adsi\u00adon of our NAND<\/span> memo\u00adry busi\u00adness from net revenue.<\/td>\n<\/tr>\n
GAAP<\/span> tax rate<\/strong><\/b><\/td>\n <\/td>\n50.1 %<\/strong><\/b><\/td>\n <\/td>\n11.9 %<\/strong><\/b><\/td>\n<\/tr>\n
Tax Reform<\/td>\n <\/td>\n(2.5) %<\/td>\n <\/td>\n\u2014 %<\/td>\n<\/tr>\n
Inco\u00adme tax effects<\/td>\n <\/td>\n(37.3) %<\/td>\n <\/td>\n0.8 %<\/td>\n<\/tr>\n
Non-GAAP tax rate<\/strong><\/b><\/td>\n <\/td>\n10.3 %<\/strong><\/b><\/td>\n <\/td>\n12.7 %<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons, Except Per Share Amounts)<\/strong><\/b><\/td>\n <\/td>\nJul 2, 2022<\/strong><\/b><\/td>\n <\/td>\nJun 26, 2021<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> net inco\u00adme (loss)<\/strong><\/b><\/td>\n <\/td>\n$ (454)<\/strong><\/b><\/td>\n <\/td>\n$ 5,061<\/strong><\/b><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n377<\/td>\n <\/td>\n366<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n87<\/td>\n <\/td>\n346<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n890<\/td>\n <\/td>\n619<\/td>\n<\/tr>\n
Patent sett\u00adle\u00adment<\/td>\n <\/td>\n204<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
Opta\u00adne inven\u00adto\u00adry impairment<\/td>\n <\/td>\n559<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
(Gains) los\u00adses from divestiture<\/td>\n <\/td>\n19<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
(Gains) los\u00adses on equi\u00adty invest\u00adments, net<\/td>\n <\/td>\n90<\/td>\n <\/td>\n(295)<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n(402)<\/td>\n<\/tr>\n
Tax Reform<\/td>\n <\/td>\n33<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
Inco\u00adme tax effects<\/td>\n <\/td>\n(624)<\/td>\n <\/td>\n(124)<\/td>\n<\/tr>\n
Non-GAAP net income<\/strong><\/b><\/td>\n <\/td>\n$ 1,181<\/strong><\/b><\/td>\n <\/td>\n$ 5,571<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n<\/tr>\n
GAAP<\/span> ear\u00adnings (loss) per share\u2014diluted<\/strong><\/b><\/td>\n <\/td>\n$ (0.11)<\/strong><\/b><\/td>\n <\/td>\n$ 1.24<\/strong><\/b><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n0.09<\/td>\n <\/td>\n0.09<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n0.02<\/td>\n <\/td>\n0.08<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n0.22<\/td>\n <\/td>\n0.15<\/td>\n<\/tr>\n
Patent sett\u00adle\u00adment<\/td>\n <\/td>\n0.05<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
Opta\u00adne inven\u00adto\u00adry impairment<\/td>\n <\/td>\n0.14<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
(Gains) los\u00adses from divestiture<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
(Gains) los\u00adses on equi\u00adty invest\u00adments, net<\/td>\n <\/td>\n0.02<\/td>\n <\/td>\n(0.07)<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n(0.09)<\/td>\n<\/tr>\n
Tax Reform<\/td>\n <\/td>\n0.01<\/td>\n <\/td>\n\u2014<\/td>\n<\/tr>\n
Inco\u00adme tax effects<\/td>\n <\/td>\n(0.15)<\/td>\n <\/td>\n(0.04)<\/td>\n<\/tr>\n
Non-GAAP ear\u00adnings per share\u2014diluted<\/strong><\/b><\/td>\n <\/td>\n$ 0.29<\/strong><\/b><\/td>\n <\/td>\n$ 1.36<\/strong><\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nThree Months Ended<\/strong><\/b><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons)<\/strong><\/b><\/td>\n <\/td>\nJul 2, 2022<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> cash from operations<\/strong><\/b><\/td>\n <\/td>\n$ 809<\/strong><\/b><\/td>\n<\/tr>\n
Net addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equip\u00adment1<\/sup><\/td>\n <\/td>\n(7,190)<\/td>\n<\/tr>\n
Adjus\u00adted free cash flow<\/strong><\/b><\/td>\n <\/td>\n$ (6,381)<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> cash pro\u00advi\u00added by inves\u00adt\u00ading activities<\/strong><\/b><\/td>\n <\/td>\n$ 168<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> cash used for finan\u00adcing activities<\/strong><\/b><\/td>\n <\/td>\n$ (2,802)<\/strong><\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1<\/sup><\/em>The cal\u00adcu\u00adla\u00adti\u00adon of adjus\u00adted free cash flow includes addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equip\u00adment net of pro\u00adceeds from capi\u00adtal grants.<\/em><\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Sup\u00adple\u00admen\u00adtal Recon\u00adci\u00adlia\u00adti\u00adons of GAAP<\/span> Out\u00adlook to Non-GAAP Outlook<\/p>\n

Set forth below are recon\u00adci\u00adlia\u00adti\u00adons of the non-GAAP finan\u00adcial mea\u00adsu\u00adre to the most direct\u00adly com\u00adpa\u00adra\u00adble U.S. GAAP<\/span> finan\u00adcial mea\u00adsu\u00adre. The\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres should not be con\u00adside\u00adred a sub\u00adsti\u00adtu\u00adte for, or supe\u00adri\u00ador to, finan\u00adcial mea\u00adsu\u00adres cal\u00adcu\u00adla\u00adted in accordance with U.S. GAAP<\/span>, and the finan\u00adcial out\u00adlook pre\u00adpared in accordance with U.S. GAAP<\/span> and the recon\u00adci\u00adlia\u00adti\u00adons from this Busi\u00adness Out\u00adlook should be careful\u00adly evaluated.<\/p>\n

Plea\u00adse refer to \u201cExpl\u00adana\u00adti\u00adon of Non-GAAP Mea\u00adsu\u00adres\u201d in this docu\u00adment for a detail\u00aded expl\u00adana\u00adti\u00adon of the adjus\u00adt\u00adments made to the com\u00adpa\u00adra\u00adble U.S. GAAP<\/span> mea\u00adsu\u00adres, the ways manage\u00adment uses the non-GAAP mea\u00adsu\u00adres, and the reasons why manage\u00adment belie\u00adves the non-GAAP mea\u00adsu\u00adres pro\u00advi\u00adde useful infor\u00adma\u00adti\u00adon for investors.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
(In Bil\u00adli\u00adons, Except Per Share Amounts)<\/strong><\/b><\/td>\n <\/td>\nQ3<\/span> 2022 Outlook<\/strong><\/b><\/td>\n <\/td>\nFull-Year 2022<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\nAppro\u00adxi\u00adm\u00adate\u00adly<\/td>\n <\/td>\nAppro\u00adxi\u00adm\u00adate\u00adly<\/td>\n<\/tr>\n
GAAP<\/span> gross margin<\/strong><\/b><\/td>\n <\/td>\n43.2 %<\/strong><\/b><\/td>\n <\/td>\n44.8 %<\/strong><\/b><\/td>\n<\/tr>\n
Amor\u00adtiza\u00adti\u00adon of acqui\u00adsi\u00adti\u00adon-rela\u00adted intan\u00adgi\u00adble assets<\/td>\n <\/td>\n2.1 %<\/td>\n <\/td>\n2.0 %<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n1.2 %<\/td>\n <\/td>\n1.1 %<\/td>\n<\/tr>\n
Patent sett\u00adle\u00adment<\/td>\n <\/td>\n\u2014 %<\/td>\n <\/td>\n0.3 %<\/td>\n<\/tr>\n
Opta\u00adne inven\u00adto\u00adry impairment<\/td>\n <\/td>\n\u2014 %<\/td>\n <\/td>\n0.8 %<\/td>\n<\/tr>\n
Non-GAAP gross margin<\/strong><\/b><\/td>\n <\/td>\n46.5 %<\/strong><\/b><\/td>\n <\/td>\n49.0 %<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> tax rate<\/strong><\/b><\/td>\n <\/td>\n(17) %<\/strong><\/b><\/td>\n <\/td>\n6 %<\/strong><\/b><\/td>\n<\/tr>\n
Tax reform<\/td>\n <\/td>\n11 %<\/td>\n <\/td>\n9 %<\/td>\n<\/tr>\n
Inco\u00adme tax effects<\/td>\n <\/td>\n19 %<\/td>\n <\/td>\n(7) %<\/td>\n<\/tr>\n
Non-GAAP tax rate<\/strong><\/b><\/td>\n <\/td>\n13 %<\/strong><\/b><\/td>\n <\/td>\n8 %<\/strong><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> ear\u00adnings (loss) per share\u2014diluted<\/strong><\/b><\/td>\n <\/td>\n$ 0.12<\/strong><\/b><\/td>\n <\/td>\n$ 2.57<\/strong><\/b><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n0.09<\/td>\n <\/td>\n0.37<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n0.03<\/td>\n <\/td>\n(0.23)<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n0.20<\/td>\n <\/td>\n0.79<\/td>\n<\/tr>\n
Patent sett\u00adle\u00adment<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n0.05<\/td>\n<\/tr>\n
Opta\u00adne inven\u00adto\u00adry impairment<\/td>\n <\/td>\n\u2014<\/td>\n <\/td>\n0.14<\/td>\n<\/tr>\n
(Gains) los\u00adses from divestiture<\/td>\n <\/td>\n(0.01)<\/td>\n <\/td>\n(0.30)<\/td>\n<\/tr>\n
(Gains) los\u00adses on equi\u00adty invest\u00adments, net<\/td>\n <\/td>\n(0.01)<\/td>\n <\/td>\n(1.05)<\/td>\n<\/tr>\n
Tax Reform<\/td>\n <\/td>\n(0.03)<\/td>\n <\/td>\n(0.17)<\/td>\n<\/tr>\n
Inco\u00adme tax effects<\/td>\n <\/td>\n(0.04)<\/td>\n <\/td>\n0.13<\/td>\n<\/tr>\n
Non-GAAP ear\u00adnings per share\u2014diluted<\/strong><\/b><\/td>\n <\/td>\n$ 0.35<\/strong><\/b><\/td>\n <\/td>\n$ 2.30<\/strong><\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Adjus\u00adted Free Cash Flow is pro\u00advi\u00added on a non-GAAP basis. We are unable to pro\u00advi\u00adde a full recon\u00adci\u00adlia\u00adti\u00adon of this mea\u00adsu\u00adre to the cor\u00adre\u00adspon\u00adding GAAP<\/span> mea\u00adsu\u00adre wit\u00adhout unre\u00adasonable efforts, as the amount and timing of rela\u00adted adjus\u00adt\u00adments on a long-term basis are sub\u00adject to con\u00adsidera\u00adble uncer\u00adtain\u00adty, depend on various fac\u00adtors, and could be mate\u00adri\u00adal to our results com\u00adpu\u00adted in accordance with GAAP<\/span>. We belie\u00adve such a recon\u00adci\u00adlia\u00adti\u00adon would also imply a degree of pre\u00adcis\u00adi\u00adon that is inap\u00adpro\u00adpria\u00adte for this for\u00adward-loo\u00adking measure.<\/p>\n\n\n\n\n\n\n\n\n
(In Bil\u00adli\u00adons)<\/strong><\/b><\/td>\n <\/td>\nFull-Year 2022<\/strong><\/b><\/td>\n<\/tr>\n
GAAP<\/span> cash from operations<\/strong><\/b><\/td>\n <\/td>\n$ 16.8<\/strong><\/b><\/td>\n<\/tr>\n
Net addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equip\u00adment1<\/sup><\/td>\n <\/td>\n(23.0)<\/td>\n<\/tr>\n
Pay\u00adments on finan\u00adce leases<\/td>\n <\/td>\n(0.4)<\/td>\n<\/tr>\n
Sale of equi\u00adty investment<\/td>\n <\/td>\n4.6<\/td>\n<\/tr>\n
Adjus\u00adted free cash flow<\/strong><\/b><\/td>\n <\/td>\n$ (2.0)<\/strong><\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1<\/sup><\/em>The cal\u00adcu\u00adla\u00adti\u00adon of adjus\u00adted free cash flow includes addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equip\u00adment net of pro\u00adceeds from capi\u00adtal grants.<\/em><\/p>\n

Released Jul 28, 2022 \u2022 4:00 PM<\/span> EDT<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

News Sum\u00adma\u00adry<\/u><\/p>\n

\u25aaSecond-quar\u00adter GAAP<\/span> reve\u00adnue of $15.3 bil\u00adli\u00adon, down 22% year over year (YoY), and non-GAAP reve\u00adnue of $15.3 bil\u00adli\u00adon, down 17% YoY.<\/p>\n

\u25aaIntel\u2019s Cli\u00adent Com\u00adpu\u00adting and Dat\u00ada\u00adcen\u00adter and AI<\/span> Groups lar\u00adge\u00adly impac\u00adted by con\u00adtin\u00adued adver\u00adse mar\u00adket con\u00addi\u00adti\u00adons; Net\u00adwork and Edge Group and Mobi\u00adleye achie\u00adved record quar\u00adter\u00adly revenue.<\/p>\n

\u25aaSecond-quar\u00adter GAAP<\/span> ear\u00adnings per share (EPS<\/span>) was $(0.11); non-GAAP EPS<\/span> was $0.29.<\/p>\n

\u25aaRevi\u00adsing full-year reve\u00adnue gui\u00addance to $65 bil\u00adli\u00adon to $68 bil\u00adli\u00adon; rei\u00adte\u00adra\u00adting full-year adjus\u00adted free cash flow guidance.<\/p>\n

SANTA<\/span> CLARA<\/span>, Calif., July28, 2022 \u2013Intel Cor\u00adpo\u00adra\u00adti\u00adon today repor\u00adted second-quar\u00adter 2022 finan\u00adcial results.<\/p>\n

\u201c<\/span>This quarter\u2019s results were below the stan\u00addards we have set for the com\u00adpa\u00adny and our share\u00adhol\u00adders. We must and will do bet\u00adter. The sud\u00adden and rapid decli\u00adne in eco\u00adno\u00admic acti\u00advi\u00adty was the lar\u00adgest dri\u00adver, but the short\u00adfall also reflects our own exe\u00adcu\u00adti\u00adon issues,\u201d said Pat Gel\u00adsin\u00adger, Intel CEO<\/span>. \u201cWe are being respon\u00adsi\u00adve to chan\u00adging busi\u00adness con\u00addi\u00adti\u00adons, working clo\u00adse\u00adly with our cus\u00adto\u00admers while remai\u00adning laser-focu\u00adsed on our stra\u00adtegy and long-term oppor\u00adtu\u00adni\u00adties. We are embra\u00adcing this chal\u00adlen\u00adging envi\u00adron\u00adment to acce\u00adle\u00adra\u00adte our transformation.\u201d<\/p>\n

\u201c<\/span>We are taking neces\u00adsa\u00adry actions to mana\u00adge through the cur\u00adrent envi\u00adron\u00adment, inclu\u00adding acce\u00adle\u00adra\u00adting the deploy\u00adment of our smart capi\u00adtal stra\u00adtegy, while rei\u00adte\u00adra\u00adting our pri\u00ador full-year adjus\u00adted free cash flow gui\u00addance and retur\u00adning gross mar\u00adgins to our tar\u00adget ran\u00adge by the fourth quar\u00adter,\u201d said David Zins\u00adner, Intel CFO<\/span>. \u201cWe remain ful\u00adly com\u00admit\u00adted to our busi\u00adness stra\u00adtegy, the long-term finan\u00adcial model com\u00admu\u00adni\u00adca\u00adted at our inves\u00adtor mee\u00adting and a strong and gro\u00adwing divi\u00addend.\u201d (\u2026) Wei\u00adter\u00adle\u00adsen \u00bb<\/a><\/p>\n","protected":false},"author":593,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"ngg_post_thumbnail":0,"footnotes":""},"categories":[22],"tags":[2711,1004,2005,368],"class_list":["post-65757","post","type-post","status-publish","format-standard","hentry","category-pressemitteilungen","tag-2711","tag-intel","tag-q2","tag-quartalszahlen","entry"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/65757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/users\/593"}],"replies":[{"embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/comments?post=65757"}],"version-history":[{"count":1,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/65757\/revisions"}],"predecessor-version":[{"id":65758,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/65757\/revisions\/65758"}],"wp:attachment":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/media?parent=65757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/categories?post=65757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/tags?post=65757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}