*Not meaningful
Full reconciliations between GAAP and non-GAAP measures are provided below.
Full-Year 2023 Financial Results
|
GAAP |
|
Non-GAAP |
||||
|
2023 |
2022 |
vs. 2022 |
|
2023 |
2022 |
vs. 2022 |
Revenue ($B) |
$54.2 |
$63.1 |
down 14% |
|
|
|
|
Gross margin |
40.0% |
42.6% |
down 2.6 ppts |
|
43.6% |
47.3% |
down 3.7 ppts |
R&D and MG&A ($B) |
$21.7 |
$24.5 |
down 12% |
|
$19.0 |
$21.9 |
down 13% |
Operating margin |
0.2% |
3.7% |
down 3.5 ppts |
|
8.6% |
12.6% |
down 4 ppts |
Tax rate |
(119.8)% |
(3.2)% |
down 116.6 ppts |
|
13.0% |
13.0% |
— |
Net income attributable to Intel ($B) |
$1.7 |
$8.0 |
down 79% |
|
$4.4 |
$6.9 |
down 36% |
Earnings per share attributable to Intel—diluted |
$0.40 |
$1.94 |
down 79% |
|
$1.05 |
$1.67 |
down 37% |
For the full year, the company generated $11.5 billion in cash from operations and paid dividends of $3.1 billion.
Business Unit Summary
Intel previously announced the organizational change to integrate its Accelerated Computing Systems and Graphics Group into its Client Computing Group and Data Center and AI Group. This change is intended to drive a more effective go-to-market capability and to accelerate the scale of these businesses, while also reducing costs. As a result, the company modified its segment reporting in the first quarter of 2023 to align to this and certain other business reorganizations. All prior-period segment data has been retrospectively adjusted to reflect the way the company internally receives information and manages and monitors operating segment performance starting in fiscal year 2023.
Business Unit Revenue and Trends |
|
Q4 2023 |
|
vs. Q4 2022 |
|
2023 |
|
vs. 2022 |
||
Client Computing Group (CCG) |
|
$8.8 billion |
|
up |
33% |
|
$29.3 billion |
|
down |
8% |
| Data Center and AI (DCAI) |
|
$4.0 billion |
|
down |
10% |
|
$15.5 billion |
|
down |
20% |
| Network and Edge (NEX) |
|
$1.5 billion |
|
down |
24% |
|
$5.8 billion |
|
down |
31% |
| Mobileye |
|
$637 million |
|
up |
13% |
|
$2.1 billion |
|
up |
11% |
| Intel Foundry Services (IFS) |
|
$291 million |
|
up |
63% |
|
$952 million |
|
up |
103% |