Shulou(Shulou.com)11/24 Report--

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! On the morning of July 28, Beijing time, Intel today released the company's second-quarter results for fiscal year 2023. Intel's second-quarter revenue was $12.948 billion (currently about 92.708 billion yuan), down 15% from $15.321 billion in the same period last year, while net profit was $1.473 billion (currently about 10.547 billion yuan), according to the report. net loss for the same period last year was $454m; diluted earnings per share was $0.35, compared with a diluted loss of $0.11 per share in the same period last year.

Intel's second-quarter revenue and adjusted earnings per share both beat Wall Street analysts' expectations, and the company's outlook for third-quarter revenue and adjusted earnings per share exceeded expectations, sending its shares up nearly 8 per cent in after-hours trading.

Summary: for the quarter ended July 1, 2023, Intel posted net profit of $1.473 billion, compared with a net loss of $454 million in the same period last year, and diluted earnings per share of $0.35, compared with a diluted loss of $0.11 per share in the same period last year.

Excluding some one-time items (not in accordance with GAAP), Intel's adjusted net profit in the second quarter was $547 million, down 52% from $1.148 billion in the same period last year; adjusted earnings per share was $0.13, down 54% from $0.29 in the same period last year, but the performance still beat analysts' expectations. On average, 31 analysts had expected Intel's second-quarter loss per share to reach $0.03, according to data provided by Yahoo Finance.

Intel's second-quarter revenue was $12.948 billion, down 15% from $15.321 billion in the same period last year, but it still beat analysts' expectations. On average, 31 analysts had expected Intel's second-quarter revenue to reach $12.13 billion, according to Yahoo Finance.

Intel posted an operating loss of $1.016 billion in the second quarter, compared with an operating loss of $700 million in the same period last year. Excluding some one-time items (not in accordance with GAAP), Intel made an adjusted operating profit of $456 million in the second quarter, compared with $1.419 billion in the same period last year.

Intel's operating margin was-7.8% in the second quarter, down 3.2 percentage points from-4.6% in the same period last year. Excluding some one-time items (not in accordance with GAAP), Intel's adjusted operating profit margin was 3.5% in the second quarter, down 5.8 percentage points from 9.3% in the same period last year.

Intel's second-quarter gross profit was $4.638 billion, compared with $5.587 billion in the same period last year. Excluding some one-time items (not in accordance with GAAP), Intel's adjusted gross profit was $5.154 billion in the second quarter, compared with $6.869 billion in the same period last year.

Intel's second-quarter gross margin was 35.8%, down 0.7 percentage points from 36.5% in the same period last year. Excluding some one-time items (not in accordance with GAAP), Intel's adjusted gross margin in the second quarter was 39.8%, down 5 percentage points from 44.8% in the same period last year.

Intel's operating expenses (R & D, general and administrative) were $5.5 billion in the second quarter, down 12% from $6.2 billion in the same period last year. Of this total, R & D expenditure was US $4.08 billion, compared with US $4.4 billion in the same period last year; marketing, general and administrative expenses were US $1.374 billion, compared with US $1.8 billion in the same period last year; and restructuring and other expenditures were US $200 million, compared with US $8700 in the same period last year. Excluding some one-time items (not in accordance with GAAP), Intel's adjusted operating expenses were $4.7 billion in the second quarter, down 14% from $5.5 billion in the same period last year.

Intel's tax rate was 280.5% in the second quarter, compared with 50.1% in the same period last year. Excluding some one-time items (not in accordance with GAAP), Intel's adjusted tax rate was 13.0% in the second quarter, unchanged from 13.0% in the same period last year.

Intel's cash from business operations in the second quarter was $2.8 billion, with an adjusted free cash flow of-$2.7 billion.

Division performance: Intel customer Computing Group's second-quarter net revenue was $6.78 billion, compared with $7.678 billion in the same period last year, down 12% from a year earlier, and operating profit was $1.039 billion, compared with $876 million in the same period last year. Of this total, revenue from the desktop business was $2.37 billion, compared with $2.289 billion in the same period last year; revenue from the notebook business was $3.896 billion, compared with $4.751 billion in the same period last year; and revenue from other businesses was $514 million, compared with $638 million in the same period last year.

Intel data center and artificial intelligence group had revenue of $4.004 billion in the second quarter, compared with $4.695 billion in the same period last year, down 15% from a year earlier. The operating loss was $161 million, compared with an operating loss of $80 million in the same period last year.

Intel Networks and Fringe groups had revenue of $1.364 billion in the second quarter, compared with $2.211 billion in the same period last year, down 38% from a year earlier, with an operating loss of $187 million and an operating profit of $294 million in the same period last year.

Revenue from Mobileye, Intel's self-driving unit, was $454 million in the second quarter, compared with $460 million a year earlier, down 1% from a year earlier. Operating profit was $129 million, compared with $190 million a year earlier.

Intel's contract manufacturing services division (Foundry Services) had revenue of $232 million in the second quarter, up 307% from $57 million a year earlier, and an operating loss of $143 million, compared with an operating loss of $134 million a year earlier.

Intel's revenue from all other businesses was $115 million in the second quarter, compared with $220 million in the same period last year, with an operating loss of $1.693 billion and an operating loss of $18.46 in the same period last year.

Third quarter performance outlook: Intel expects revenue of about $12.9 billion to $13.9 billion (currently about 92.364 billion to 99.524 billion yuan) in the third quarter of fiscal 2023. The average of this performance outlook range is $13.4 billion, exceeding analysts' expectations. Gross profit margin is about 39.1%, which is not adjusted in accordance with US general accounting standards. The tax rate under GAAP is about 224%, and that without GAAP is about 13%; diluted earnings per share is about $0.04; and diluted earnings per share, which are not adjusted in accordance with GAAP, are about $0.20, which also exceeds analysts' expectations.

On average, 30 analysts expect Intel's third-quarter revenue to reach $13.23 billion, while 31 analysts expect Intel's third-quarter adjusted earnings per share to reach 16 cents, according to data provided by Yahoo Finance.

Share price movements: Intel shares rose 19 cents, or 0.55%, to close at $34.55 in regular trading. Intel shares rose another $2.72, or 7.87 per cent, to $37.27 in after-hours trading as of 06:53 EDT (06:53 Beijing time on Friday). In the past 52 weeks, Intel's highest price is $40.12 and its lowest price is $24.59.

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