Intel said 2024 revenue was $53.1 billion, down $1.1 billion, or 2%, from 2023. The company said the decrease in all other revenue and Intel Foundry revenue was partially offset by higher Intel Products revenue of 3%.

10-KAnnual reportFiled Jan 31, 2025Period of report Dec 28, 2024Summary published (UTC) Oct 10, 2026

Key points

AI summary

Intel said 2024 revenue was $53.1 billion, down $1.1 billion, or 2%, from 2023. The company said the decrease in all other revenue and Intel Foundry revenue was partially offset by higher Intel Products revenue of 3%.
Intel said consolidated gross margin in 2024 decreased by $4.4 billion, or 20%, compared to 2023. The company cited as factors primarily impairment charges and accelerated depreciation of Intel 7 process manufacturing assets of $3.3 billion, and Gaudi AI accelerator inventory-related charges of $922 million.
Intel said it recognized net charges of $2.2 billion in 2024 relating to employee severance and benefit arrangements under the 2024 Restructuring Plan. The company also said it recognized non-cash impairments of goodwill and acquired intangible assets of $3.1 billion and charges of $780 million related to R2 litigation in 2024.
Intel said the Ireland SCIP transaction, which closed in Q2 2024, resulted in net cash inflows of $11.0 billion. The company said it suspended quarterly dividend declarations beginning in Q4 2024, and that dividends are prohibited for 2 years under its commercial CHIPS Act agreements.

Key figures

Fiscal year ended December 28, 2024

Revenue: $53.1B
Operating income: −$11.7B
Net income: −$18.8B
EPS: −$4.38
Gross profit: $17.3B
Operating cash flow: $8.3B

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.

Annual Revenue $53.1 billion, Down 2% From Prior Year

Intel said 2024 revenue was $53.1 billion, down $1.1 billion, or 2%, from 2023. The company said the decrease in all other revenue and Intel Foundry revenue was partially offset by higher Intel Products revenue of 3%.

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

Gross Margin Decline of $4.4 billion and $3.3 billion in Charges

Intel said consolidated gross margin in 2024 decreased by $4.4 billion, or 20%, compared to 2023. The company cited as factors primarily impairment charges and accelerated depreciation of Intel 7 process manufacturing assets of $3.3 billion, and Gaudi AI accelerator inventory-related charges of $922 million.

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

2024 Restructuring Plan Charges and Litigation Costs

Intel said it recognized net charges of $2.2 billion in 2024 relating to employee severance and benefit arrangements under the 2024 Restructuring Plan. The company also said it recognized non-cash impairments of goodwill and acquired intangible assets of $3.1 billion and charges of $780 million related to R2 litigation in 2024.

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

Liquidity: SCIP Net Inflows of $11.0 billion and Dividend Suspension

Intel said the Ireland SCIP transaction, which closed in Q2 2024, resulted in net cash inflows of $11.0 billion. The company said it suspended quarterly dividend declarations beginning in Q4 2024, and that dividends are prohibited for 2 years under its commercial CHIPS Act agreements.

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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