Intel said total revenue for Q3 2024 was $13.3 billion, down $874 million from Q3 2023. The company cited a decline in CCG revenue of 7%, a decline in Altera revenue of 44%, and a decline in external Intel Foundry revenue of 79% as factors, while DCAI revenue rose 9%.

10-QQuarterly reportFiled Nov 1, 2024Period of report Sep 28, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Intel said total revenue for Q3 2024 was $13.3 billion, down $874 million from Q3 2023. The company cited a decline in CCG revenue of 7%, a decline in Altera revenue of 44%, and a decline in external Intel Foundry revenue of 79% as factors, while DCAI revenue rose 9%.
The company said it carried out the 2024 Restructuring Plan, including a reduction of 16,500 employees, and recognized restructuring charges of $2.8 billion in Q3 2024.
The company said it recognized non-cash impairments and accelerated depreciation for manufacturing assets of $3.1 billion, non-cash impairments of goodwill and acquired intangible assets of $2.9 billion, and non-cash charges of $9.9 billion, mostly related to valuation allowances on net deferred tax assets, in Q3 2024.
The company said it completed the sale of 49% of its interest in Ireland SCIP to Apollo Global Management in Q2 2024, receiving net proceeds of $11.0 billion, and that most of this amount was reflected as an increase in capital in excess of par value.

Key figures

Quarter ended September 28, 2024

Revenue: $13.3B
Operating income: −$9.1B
Net income: −$16.6B
EPS: −$3.88
Gross profit: $2.0B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q3 2024 revenue $13.3 billion

Intel said total revenue for Q3 2024 was $13.3 billion, down $874 million from Q3 2023. The company cited a decline in CCG revenue of 7%, a decline in Altera revenue of 44%, and a decline in external Intel Foundry revenue of 79% as factors, while DCAI revenue rose 9%.

Source · Based on the MD&A text of the filing

Q3 Restructuring Charges $2.8 billion

The company said it carried out the 2024 Restructuring Plan, including a reduction of 16,500 employees, and recognized restructuring charges of $2.8 billion in Q3 2024.

Source · Based on the MD&A text of the filing

Q3 Non-Cash Impairment and Valuation Allowance Charges

The company said it recognized non-cash impairments and accelerated depreciation for manufacturing assets of $3.1 billion, non-cash impairments of goodwill and acquired intangible assets of $2.9 billion, and non-cash charges of $9.9 billion, mostly related to valuation allowances on net deferred tax assets, in Q3 2024.

Source · Based on the MD&A text of the filing

Net Proceeds from Sale of 49% Interest in Ireland SCIP

The company said it completed the sale of 49% of its interest in Ireland SCIP to Apollo Global Management in Q2 2024, receiving net proceeds of $11.0 billion, and that most of this amount was reflected as an increase in capital in excess of par value.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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