Intel Q2 Loss Widens, Revenue Jumps 25%
(RTTNews) - Intel Corp. (INTC) on Thursday reported a wider loss for the second quarter, as revenue posted its strongest year-over-year growth in more than 15 years. The chipmaker also issued an upbeat outlook for the third quarter.
Intel reported a net loss of $11.03 billion or $2.16 per share, compared with a loss of $2.92 billion or $0.67 per share a year earlier. The loss primarily reflected a non-operating mark-to-market charge related to Escrowed Shares under its CHIPS Act agreement.
On an adjusted basis, net income was $2.20 billion or $0.42 per share, compared with a loss of $441 million or $0.10 per share last year.
Second-quarter revenue increased 25% to $16.13 billion from $12.86 billion a year ago.
By segment, Client Computing and Physical AI Group revenue rose 13% to $8.9 billion, while Data Center and AI revenue surged 59% to $6.3 billion. Intel Foundry revenue increased 31% to $5.8 billion.
For the third quarter, Intel expects revenue of $15.8 billion to $16.8 billion. It projects earnings of $0.31 per share and adjusted earnings of $0.38 per share.
