Intel reported Q4 2023 revenue of $15.4 billion, up 10 percent year-over-year (YoY). Full-year revenue was $54.2 billion, down 14 percent YoY. Fourth-quarter earnings per share (EPS) attributable to Intel was $0.63; non-GAAP EPS attributable to Intel was $0.54.
“We delivered strong Q4 results, surpassing expectations for the fourth consecutive quarter with revenue at the higher end of our guidance,” said Pat Gelsinger, Intel CEO. “The quarter capped a year of tremendous progress on Intel’s transformation, where we consistently drove execution and accelerated innovation, resulting in strong customer momentum for our products. In 2024, we remain relentlessly focused on achieving process and product leadership, continuing to build our external foundry business and at-scale global manufacturing, and executing our mission to bring AI everywhere as we drive long-term value for stakeholders.”
Highlights:
- In DCAI, momentum with Intel’s 4th Gen Intel Xeon Scalable processor remains strong, with more than 2.5 million units shipped since its introduction in January 2023.
- In the fourth quarter, DCAI launched its 5th Gen Intel Xeon processor. IFS won a key design award with a new high-performance computing customer, its fourth external Intel 18A customer win in 2023.
- IFS has taped out more than 75 ecosystem and customers test chips and has more than 50 test chips in the pipeline across 2024 and 2025, 75% of which are on Intel 18A. Intel also won three additional advanced packaging design wins during the fourth quarter.
- Intel and UMC also announced a collaboration on the development of a 12-nanometer process platform to address high-growth markets, such as mobile, communication infrastructure and networking.
- In client computing, Intel ushered in the age of the AI PC with Intel Core Ultra processors. In network and edge, OpenVINO adoption grew by 60% sequentially in the fourth quarter as it became a core software layer for AI inference on the edge, on the PC and in the data center.
- Additionally, AT&T and Ericsson announced plans to lead the U.S. in commercial scale Open RAN deployment in collaboration with Intel and others as it plans for 70% of its wireless network traffic to flow across open-capable platforms by late 2026.
- Cisco is working with Intel and others to create solutions including Ethernet technologies, GPU-enabled infrastructure, and jointly tested and validated reference architectures with a commitment to advancing AI networking.
