Intel Reports Third-Quarter 2023 Financial Results

Intel Corporation

Supplemental Operating Segment Results

   

Three Months Ended

(In Millions)

 

Sep 30, 2023

 

Oct 1, 2022

Net revenue:

       

Client Computing

       

Desktop

 

$         2,753

 

$         3,222

Notebook

 

           4,503

 

           4,408

Other

 

              611

 

              498

   

           7,867

 

           8,128

         

Data Center and AI

 

           3,814

 

           4,255

Network and Edge

 

           1,450

 

           2,133

Mobileye

 

              530

 

              450

Intel Foundry Services

 

              311

 

               78

All other

 

              186

 

              294

Total net revenue

 

$        14,158

 

$        15,338

         

Operating income (loss):

       

Client Computing

 

$         2,073

 

$         1,447

Data Center and AI

 

               71

 

            (139)

Network and Edge

 

               17

 

              197

Mobileye

 

              170

 

              142

Intel Foundry Services

 

              (86)

 

              (90)

All other

 

          (2,253)

 

          (1,732)

Total operating income (loss)

 

$              (8)

 

$           (175)

We derive a substantial majority of our revenue from our principal products that incorporate various components and technologies, including a microprocessor and chipset, a stand-alone system-on-chip or a multichip package, which are based on Intel architecture.

Revenue for our reportable and non-reportable operating segments is primarily related to the following product lines:

-       CCG includes products designed for end-user form factors, focusing on higher growth segments of 2 in 1, thin-and-light, commercial and gaming, and growing other products such as connectivity and graphics.

-       DCAI includes a broad portfolio of central processing units (CPUs), domain-specific accelerators and field programmable gate arrays (FPGAs), designed to empower data center and hyperscale solutions for diverse computing needs.

-       NEX includes programmable platforms and high-performance connectivity and compute solutions designed for market segments such as cloud networking, telecommunications networks, on-premises edge, software and platforms.

-       Mobileye includes the development and deployment of advanced driver-assistance systems (ADAS) and autonomous driving technologies and solutions.

-       IFS provides differentiated full stack solutions including wafer fabrication, packaging, chiplet standard and software.

We have sales and marketing, manufacturing, engineering, finance and administration groups. Expenses for these groups are generally allocated to the operating segments.

We have an "all other" category that includes revenue, expenses and charges such as:

-       results of operations from non-reportable segments not otherwise presented, and from start-up businesses that support our initiatives;

-       historical results of operations from divested businesses;

-       amounts included within restructuring and other charges;

-       employee benefits, compensation, impairment charges, and other expenses not allocated to the operating segments; and

-       acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill.

Intel Corporation

Explanation of Non-GAAP Measures

In addition to disclosing financial results in accordance with US GAAP, this document contains references to the non-GAAP financial measures below. We believe these non-GAAP financial measures provide investors with useful supplemental information about our operating performance, enable comparison of financial trends and results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance. These non-GAAP financial measures are used in our performance-based RSUs and our cash bonus plans.

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