Fri, Aug 2, 10:09 AM (88 days ago)
Intel Corporation's Q2 2024 financial report shows a slight decrease in total revenue to $12.8 billion, down $116 million from Q2 2023. The Client Computing Group (CCG) saw a 9% revenue increase due to higher notebook and desktop volumes, while the Data Center and AI (DCAI) segment experienced a 3% revenue decline due to reduced server demand. Network and Edge (NEX) revenue was relatively flat. The gross margin fell to 35.4% from 35.8% in Q2 2023, impacted by higher unit costs and lower Altera revenue. Operating expenses rose by 2%, driven by increased investments in process technology. Restructuring and other charges surged to $943 million, primarily due to litigation and asset impairment charges. Operating cash flow remained stable, while adjusted free cash flow improved significantly. The company announced cost-reduction measures and suspended its Q4 2024 dividend to prioritize liquidity for strategic investments.