Intel’s Q4 2023 financial report reveals a 10% increase in total revenue compared to the same period in the previous year, amounting to $15.406 billion. Additionally, their net profit according to GAAP accounting standards stands at $2.66 billion. This marks the first quarterly revenue increase after experiencing continuous decline over the past 7 quarters.
During the earnings call, Intel CEO Pat Gelsinger provided further insights, highlighting the company’s core business in PCs and servers. He emphasized their resilience and market share retention, indicating successful execution of the previously announced organizational transformation plans.
Client Computing (PC) revenue experienced a significant 33% growth, reaching $8.844 billion. However, the Data Center and AI group saw a decrease of 10%, generating $3.985 billion in revenue. Meanwhile, the Network and Edge group faced a 24% decline, with revenue amounting to $1.471 billion. Mobileye, Intel’s subsidiary focused on autonomous driving technology, achieved a revenue increase of 13% to $637 million. Lastly, Intel’s foundry business, Intel Foundry, experienced a remarkable 63% revenue growth to $291 million.
TLDR: Intel’s Q4 2023 results show a 10% increase in total revenue, reaching $15.406 billion, and a net profit of $2.66 billion as per GAAP accounting standards. CEO Pat Gelsinger highlighted the strength of Intel’s core businesses in PCs and servers. The Client Computing group saw a 33% revenue growth, while the Data Center and AI group faced a 10% decline. The Network and Edge group witnessed a 24% revenue decrease. Mobileye achieved a 13% revenue increase, and Intel Foundry recorded a significant 63% revenue growth.
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