Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made in this release and in other documents we file from time to time with the SEC that disclose risks and uncertainties that may affect our business.
Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this filing. In addition, the forward-looking statements in this release are based on management's expectations as of the date of this release, unless an earlier date is specified, including expectations based on third-party information and projections that management believes to be reputable. We do not undertake, and expressly disclaim any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law.
About Intel
Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.
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Consolidated Condensed Statements of Income and Other Information
|
|
Three Months Ended |
|
|
(In Millions, Except Per Share Amounts; Unaudited) |
Jul 1, 2023 |
Jul 2, 2022 |
|
Net revenue |
$ 12,949 |
$ 15,321 |
|
Cost of sales |
8,311 |
9,734 |
|
Gross margin |
4,638 |
5,587 |
|
Research and development |
4,080 |
4,400 |
|
Marketing, general, and administrative |
1,374 |
1,800 |
|
Restructuring and other charges |
200 |
87 |
|
Operating expenses |
5,654 |
6,287 |
|
Operating income (loss) |
(1,016) |
(700) |
|
Gains (losses) on equity investments, net |
(24) |
(90) |
|
Interest and other, net |
224 |
(119) |
|
Income (loss) before taxes |
(816) |
(909) |
|
Provision for (benefit from) taxes |
(2,289) |
(455) |
|
Net income (loss) |
1,473 |
(454) |
|
Less: Net income (loss) attributable to non-controlling interests |
(8) |
— |
|
Net income (loss) attributable to Intel |
$ 1,481 |
$ (454) |
|
Earnings (loss) per share attributable to Intel—basic |
$ 0.35 |
$ (0.11) |
|
Earnings (loss) per share attributable to Intel—diluted |
$ 0.35 |
$ (0.11) |
|
|
|
|
|
Weighted average shares of common stock outstanding: |
|
|
|
Basic |
$ 4,182 |
$ 4,100 |
|
Diluted |
$ 4,196 |
$ 4,100 |
|
|
Three Months Ended |
|
(In Millions) |
Jul 1, 2023 |
|
Earnings per share of common stock information: |
|
|
Weighted average shares of common stock outstanding—basic |
4,182 |
|
Dilutive effect of employee equity incentive plans |
14 |
|
Weighted average shares of common stock outstanding—diluted |
4,196 |
|
|
|
|
Other information: |
|
|
Employees (in thousands) |
122.2 |
