Intel Q1 Report 2023

• First-quarter revenue of $11.7 billion, down 36% year over year (YoY).
• First-quarter GAAP earnings (loss) per share (EPS) attributable to Intel was $(0.66); non-GAAP EPS attributable to Intel was $(0.04).
• Forecasting second-quarter 2023 revenue of $11.5 billion to $12.5 billion; expecting second-quarter EPS of $(0.62); non-GAAP EPS of $(0.04).

David Zinsner, Intel CFO, said, “We exceeded our first-quarter expectations on the top and bottom line, and continued to be disciplined on expense management as part of our commitment to drive efficiencies and cost savings. At the same time, we are prioritizing the investments needed to advance our strategy and establish an internal foundry model, one of the most consequential steps we are taking to deliver on IDM 2.0.”