In the third quarter, the company generated $1.0 billion in cash from operations and paid dividends of $1.5 billion. The company also made progress toward creating a geographically balanced, secure and resilient semiconductor supply chain as it broke ground on two of the worlds most advanced chipmaking facilities in Ohio. Worth noting, that Intel booked a restructuring charge of $664 million in the third quarter to reflect initial cost . You can easily search the entire Intel.com site in several ways. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable U.S. GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. Sign up here Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to Intel's strategy and its anticipated benefits, including our February 2022 Investor Day financial model, Smart Capital strategy, the Semiconductor Co-Investment Program, our partnership with Brookfield Asset Management (Brookfield), the transition to an internal foundry model, and updates to our reporting structure; manufacturing expansion, financing, and investment plans, including the impacts of plans such as our announced investments in the U.S. and abroad; plans, customers, and goals related to Intels foundry business; projected costs and yield trends; supply expectations, including regarding industry shortages, constraints, limitations, pricing and sufficiency of future supply; pending transactions, including the pending acquisition of Tower Semiconductor Ltd., the sale of our NAND memory business, the close of our transactions with Brookfield, and the wind-down of our Intel Optane memory business. Product defects or errata (deviations from published specifications) can adversely impact our expenses, revenues, and reputation. On Intel 20A and Intel 18A, Intels first internal test chips and those of a major potential foundry customer have taped out with products undergoing fabrication. Intel operates in highly competitive industries and its operations have high costs that are either fixed or difficult to reduce in the short term. Decades-high inflation and the reopening of offices and schools have led people to spend less on PCs than they did during pandemic-related lockdowns. // Your costs and results may vary. Expenses for these groups are generally allocated to the operating segments. The pandemic has resulted in authorities imposing numerous measures to try to contain the virus, including manufacturing, transportation, and operational restrictions or disruptions, such as the Shanghai port shutdowns. To drive this, Intel created the IDM 2.0 Acceleration Office (IAO) led by Stuart Pann, chief business transformation officer. (Gains) losses on equity investments, net consists of ongoing mark-to-market adjustments on marketable equity securities, observable price adjustments on non-marketable equity securities, related impairment charges, and the sale of equity investments and other. "According to court documents, the defendants allegedly obtained funds under the PPP and EIDL Program by submitting false and fraudulent loan applications that collectively sought over $1 million. This will negatively impact revenues across the chip industry (at least in most cases), and typically, these situations call for re-evaluation of cost and margins, said Gartner analyst Gaurav Gupta in an email to The Verge. Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions, such as the pending acquisition of Tower Semiconductor Inc., our transactions with Brookfield, and the initial public offering of Mobileye. This site is intended to power a new generation of innovative products from Intel and serve the needs of foundry customers as part of the companys IDM 2.0 strategy. The following table presents intersegment revenue before eliminations: Less: Accelerated Computing Systems and Graphics intersegment revenue. In Q2 2022, we initiated the winding down of our Intel Optane memory business. Mobileye includes the development and deployment of advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions. On October 27, the company will release its fiscal 2022 third quarter earnings report, so Intel wants to cut headcount before then. Intel declined to comment on the job cuts. These measures have impacted and may further impact our workforce and operations, the operations of our customers, and those of our respective vendors, suppliers, and partners. Intel continues to make progress with its goal of achieving five nodes in four years. Net additions to property, plant and equipment. The number of Intel employees stands at 113.7 thousand employees as of the end of July, a number that, at least according to the report, may decrease by more than 20 thousand. The company is focused on driving $3 billion in cost reductions in 2023 . Intel Corporations second-quarter 2022 earnings news release and presentation are available on the companysInvestor Relations website. Through this layoff, the company . 27% of Intel employees are women, while 73% are men. Listed Mobileye on the Nasdaq Stock Exchange this week. Cybersecurity incidents, whether or not successful, can affect Intel's results by causing us to incur significant costs or disrupting our operations or those of our customers and suppliers, and can result in reputational harm. IFS is a services provider offering a combination of leading-edge packaging and process technology, world-class differentiated internal IPs (i.e. Brand Name: Core i9 Document Number: 123456 Code Name: Alder Lake Intels Business Outlook and other statements in this release that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties. Terms of Use. July 28, 2022. Intel has announced layoffs of a large number of employees. Adjusted Free Cash Flow is provided on a non-GAAP basis. SANTA CLARA, Calif., October27, 2022 Intel Corporation today reported third-quarter 2022 financial results. Consolidated Condensed Statements of Income and Other Information, (In Millions, Except Per Share Amounts; unaudited), Gains (losses) on equity investments, net. This includes the reorganization of Intel's business units to capture this growth and provide increased transparency, focus and accountability. For example, in response to Russias war with Ukraine, numerous countries and organizations have imposed financial and other sanctions and export controls against Russia and Belarus, while businesses, including the Company, have limited or suspended Russian operations. subscribe to our YouTube channel. Intel Corporation's third-quarter 2022 earnings news release and presentation are available on the company's Investor Relations website. : x86, graphics, AI), broad third party ecosystem and silicon design support. Our non-GAAP financial measures reflect adjustments based on one or more of the following items, as well as the related income tax effects where applicable. The degree to which COVID-19 impacts our results will depend on future developments, which are highly uncertain. This week Mobileye went public on the Nasdaq Stock Exchange, which Intel believes will unlock. Sign in here. Intel plans to cut thousands of jobs hit by PC slowdown - Bloomberg News, Instagram tips and tricks: Use vanish mode to send disappearing messages- Know how, Bought the new iPhone 14? // Intel is committed to respecting human rights and avoiding complicity in human rights abuses. Based on our ongoing obligation under the NAND wafer manufacturing and sale agreement entered into in connection with the first closing of the sale of our NAND memory business on December 29, 2021, a portion of the initial closing consideration was deferred and will be recognized between first and second closing. The last time Intel made a significant employee cut was in 2016 . NVIDIA total number of employees in 2021 was 18,975, a 37.75% increase from 2020. Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook. NVIDIA total number of employees in 2022 was 22,473, a 18.43% increase from 2021. Sources: Annual report of Intel Corporation. The most common ethnicity at Intel is White (52%), followed by Asian (19%) and Hispanic or Latino (18%). : x86, graphics, AI), broad third party ecosystem and silicon design support. The pandemic has resulted in authorities imposing numerous measures to try to contain the virus, including manufacturing, transportation, and operational restrictions or disruptions, such as the Shanghai port shutdowns. List Of Intel Job Openings 2022 for Freshers Check the below-given table we have given the complete overview of the job role at the same location. Amortization of acquisition-related intangible assets consists of amortization of intangible assets such as developed technology, brands, and customer relationships acquired in connection with business combinations. or As part of its Q3 earnings, the company announced plans to cut around $3 billion in costs over the course of next year, and CEO Pat Gelsinger told Reuters that part of that would come from people costs. He also confirmed the job cuts to Bloomberg and added that the company was reducing factory work hours for some employees. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. The IAO will be responsible for fully operationalizing Intels IDM 2.0 model and for developing and implementing the systems and processes to support the companys internal requirements and external foundry customer commitments. See Intels Global Human Rights Principles. The COVID-19 pandemic has previously adversely affected significant portions of Intel's business and could have a material adverse effect on Intel's financial condition and results of operations. We exclude gains or losses resulting from divestitures for purposes of calculating certain non-GAAP measures because they do not reflect our current operating performance. More:Earnings Call Comments from CEO Pat Gelsinger and CFO Dave Zinsner. Get Rishi Anand's email address (r*****@intel.com) and phone number (647292..) at RocketReach. | November 5, 2022 . AXG launched the Intel Data Center GPU Flex Series, giving customers a single GPU solution for a wide range of visual cloud workloads, and the Intel Arc A770 and A750 desktop GPUs, bringing much-needed GPU pricing and performance balance to gamers around the world. for a basic account. Intel's restructuring moves include a target to reduce costs by $3 billion in 2023 and $8 to $10 billion by the end of 2025. In addition, these transactions do not always achieve our financial or strategic objectives and can disrupt our ongoing business and adversely impact our results of operations. Intel 4 is progressing towards high-volume-manufacturing, and the company expects to tape out a production stepping of Meteor Lake in the fourth quarter, the final step in taking the 14th Gen Intel Core processors from the design phase to early production in silicon. All prior-period segment data has been retrospectively adjusted to reflect the way the company internally manages and monitors operating segment performance starting in fiscal year 2022. Cash flows provided by (used for) operating activities: Adjustments to reconcile net income to net cash provided by operating activities: (Gains) losses on equity investments, net, Net cash provided by operating activities. Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this release. The company revealed layoffs will be included in the cuts during its . Intel operates in highly competitive industries and its operations have high costs that are either fixed or difficult to reduce in the short term. Variations in results can also be caused by the timing of Intel product introductions and related expenses, including marketing programs and Intel's ability to respond quickly to technological developments and to introduce new products or incorporate new features into existing products, as well as decisions to exit product lines or businesses, which can result in restructuring and asset impairment charges. The company had 113,700 employees as of July, Bloomberg News said. Jun/2022 : Intel INTC:US : 121.1K 10.5K Jun/2022 : KLA-Tencor . Third-quarter GAAP earnings per share (EPS) was $0.25; non-GAAP EPS was $0.59. By signing in, you agree to our Terms of Service. IFS announced that NVIDIA has committed to joining the U.S. Department of Defenses (DOD) RAMP-C program, led by Intel, which enables both commercial foundry customers and the DOD to take advantage of Intels at-scale investments in leading-edge technologies. Intels products and software are intended only to be used in applications that do not cause or contribute to a violation of an internationally recognized human right. Intel technologies may require enabled hardware, software or service activation. Product defects or errata (deviations from published specifications) can adversely impact our expenses, revenues, and reputation. See Intels Global Human Rights Principles. Chip-maker Intel will begin to lay off workers soon as the company plans to drive nearly $3 billion in annual savings in the near term and $8 billion to $10 billion by the end of 2025, and these . // No product or component can be absolutely secure. // Your costs and results may vary. Russia has likewise imposed currency restrictions and regulations and may further take retaliatory trade or other actions, including the nationalization of foreign businesses. The company is currently in the process of building a facility in Ohio, which it broke ground on earlier this year, and has committed at least $20 billion to the project. Intel Corporation's second-quarter 2022 earnings news release and presentation are available on the company's Investor Relations website. password? Intel said that it intends to find cost reductions and efficiencies worth up to $10 billion through 2025. . In the third quarter, CCG launched the 13th Gen Intel Core processors, which offer the worlds fastest desktop processor and optimized gaming, content creation and productivity. The calculation of adjusted free cash flow includes additions to property, plant and equipment net of proceeds from capital grants. Intel's Chief Executive Officer Pat Gelsinger released a memo to company employees on Tuesday outlining plans to create an internal foundry model for external customers and the company's product lines. Number of Analysts: 40: Last Close Price: 28,20 . Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable U.S. GAAP financial measure. The impact of the pandemic can also exacerbate other risks discussed in this section. All forward-looking statements included in this release are based on management's expectations as of the date of this release and, except as required by law, Intel disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. RT=Real-Time, EOD=End of Day, PD=Previous Day. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the financial results calculated in accordance with US GAAP and reconciliations from these results should be carefully evaluated. We completed the first closing of the divestiture of our NAND memory business to SK hynix on December 29, 2021 and fully deconsolidated our ongoing interests in the NAND OpCo Business in the first quarter of 2022. You can also try the quick links below to see results for most popular searches. Detailed information regarding these and other factors that could affect Intel's business and results is included in Intel's SEC filings, including the company's most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports. Gains or losses are recognized at the close of a divestiture, or over a specified deferral period when deferred consideration is received at the time of closing. 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. . Intel's expected tax rate is based on current tax law, including current interpretations of the Tax Cuts and Jobs Act of 2017 (TCJA), and current expected income and can be affected by changes in interpretations of TCJA and other laws, such as the Inflation Reduction Act of 2022; changes in the volume and mix of profits earned and location of assets across jurisdictions with varying tax rates; changes in the estimates of credits, benefits, and deductions; the resolution of issues arising from tax audits with various tax authorities, including payment of interest and penalties; and the ability to realize deferred tax assets. In terms of its earnings, the company has made it out of the red in Q2, it lost half a billion dollars, and this quarter, it reported a billion dollars in profits. 0.6. Intel's second-quarter 2022 earnings news release and presentation are available on the companys Investor Relations website. You can easily search the entire Intel.com site in several ways. DCAI shipped its 4th Gen Intel Xeon Scalable processor high-volume SKUs. The company is focused on driving $3 billion in cost reductions in 2023, growing to $8 billion to $10 billion in annualized cost reductions and efficiency gains by the end of 2025. Revising full-year revenue guidance to $63 billion to $64 billion, reflecting continued macroeconomic headwinds. Intel Corporation.

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