Intel's Q4 Revenue Surges to $15.4 Billion, Profits Reach $2.66 Billion

Intel, the renowned chip-maker, reported robust financial performance in its fourth quarter of 2023, registering $15.4 billion in revenue, marking a significant 10 percent year-over-year (YoY) increase. Notably, the company's full-year revenue reached $54.2 billion, while experiencing a 14 percent YoY decline from the previous year's figure of $63.1 billion.

Consumer chips played a pivotal role in Intel's success, witnessing an impressive 33 percent gain with $8.8 billion in revenue. The company highlighted "record performance notebook shipments in the quarter," indicating strong demand for its products. In terms of profitability, Intel recorded a substantial increase, with a Q4 profit of $2.66 billion, a notable improvement from the $796 million loss reported during the same period the previous year.

Pat Gelsinger, Intel CEO, expressed satisfaction with the Q4 results, exceeding expectations for the fourth consecutive quarter. Looking ahead to 2024, Gelsinger emphasized the company's commitment to achieving process and product leadership, expanding its external foundry business, and promoting global manufacturing at scale. The CEO also underscored Intel's mission to democratize AI and bring it everywhere, driving long-term value for stakeholders.

David Zinsner, Intel CFO, highlighted the company's continued focus on operational efficiencies in the fourth quarter, meeting its commitment to delivering $3 billion in cost savings in 2023. Zinsner further expressed optimism about unlocking additional efficiencies in 2024, particularly with the implementation of Intel's new internal foundry model. This model is designed to enhance transparency, accountability, and yield higher returns on the company's capital.

Throughout the year, Intel generated $11.5 billion in cash from operations and paid dividends amounting to $3.1 billion. In the realm of client computing, Intel introduced the era of the AI PC with its Intel Core Ultra processors. These processors, built on Intel 4, are recognized for being the most AI-capable and power-efficient client processors, featuring dedicated acceleration capabilities across the CPU, GPU, and NPU.

(With Agency Inputs)