Intel Corporation, a leading technology company, reported its annual financial performance for the fiscal year ended December 30, 2023. The company's revenue stood at $54.2 billion, marking a 14% decrease from the previous year's $63.05 billion. Operating profit was reported at a modest $93 million, significantly lower than the $2.334 billion in 2022. Net profit for the year was $1.675 billion, a substantial decline from $8.017 billion in the prior year. Diluted earnings per share (EPS) were $0.40, compared to $1.94 in 2022. The company's Client Computing Group (CCG) generated $29.258 billion in revenue, while the Data Center and AI (DCAI) segment brought in $15.521 billion. The Network and Edge (NEX) segment contributed $5.774 billion, and Mobileye, Intel's autonomous driving technology division, reported $2.079 billion in revenue. Intel Foundry Services (IFS) accounted for...Show More

Intel Corporation, a leading technology company, reported its annual financial performance for the fiscal year ended December 30, 2023. The company's revenue stood at $54.2 billion, marking a 14% decrease from the previous year's $63.05 billion. Operating profit was reported at a modest $93 million, significantly lower than the $2.334 billion in 2022. Net profit for the year was $1.675 billion, a substantial decline from $8.017 billion in the prior year. Diluted earnings per share (EPS) were $0.40, compared to $1.94 in 2022. The company's Client Computing Group (CCG) generated $29.258 billion in revenue, while the Data Center and AI (DCAI) segment brought in $15.521 billion. The Network and Edge (NEX) segment contributed $5.774 billion, and Mobileye, Intel's autonomous driving technology division, reported $2.079 billion in revenue. Intel Foundry Services (IFS) accounted for $952 million. The company's operating segments faced various challenges, including a competitive market, supply chain disruptions, and shifts in product demand. Intel's strategic focus on expanding manufacturing capacity and accelerating process technology development under its IDM 2.0 strategy led to significant capital investments, impacting the company's financials. Despite the downturn, Intel remains committed to its long-term financial model and transformational journey, prioritizing investments in critical areas to regain process leadership and establish a leading-edge foundry business.