Summary by Moomoo AI
Intel Corporation (Intel) reported a quarterly revenue of $12.8 billion for the period ending June 29, 2024, a slight decrease of $116 million from Q2 2023. The Client Computing Group (CCG) saw a 9% increase, primarily due to improved notebook and desktop volumes, while Data Center and AI (DCAI) revenue declined by 3% due to lower server demand in a competitive environment. Network and Edge (NEX) revenue remained relatively flat. External Intel Foundry revenue fell due to reduced packaging services and equipment sales, and Altera revenue decreased as customers reduced inventories. Intel's gross margin was down slightly year-on-year, with a 0.4 percentage point decrease from Q2 2023. Operating expenses rose by 2%, with research and development (R&D) increasing by 4% due to investments in process technology and leadership products...Show More