Intel Non-GAAP EPS of -$0.46 misses by $0.43, revenue of $13.28B beats by $240M

Intel press release (NASDAQ:INTC): Q3 Non-GAAP EPS of -$0.46 misses by $0.43.
Revenue of $13.28B (-6.2% Y/Y) beats by $240M.
Shares +0.97%.
Third-quarter GAAP earnings (loss) per share attributable to Intel (INTC) was $(3.88)
$(3.89) impact to GAAP EPS attributable to Intel from $15.9 billion of impairment charges and $2.8 billion of restructuring charges; $(0.63) impact to non-GAAP EPS attributable to Intel from $3.1 billion of impairment charges.
Making significant progress on plan to deliver $10 billion in cost reductions in 2025.
Forecasting fourth-quarter 2024 revenue of $13.3 billion to $14.3 billion; expecting fourth-quarter GAAP EPS attributable to Intel of $(0.24); non-GAAP EPS attributable to Intel of $0.12.

Business Outlook

Intel’s guidance for the fourth quarter of 2024 includes both GAAP and non-GAAP estimates as follows:

Q4 2024	GAAP	Non-GAAP
Revenue	$13.3-14.3 billion
Gross Margin	36.5%	39.5%
Tax Rate	(50)%	13%
Earnings (Loss) Per Share Attributable to Intel—Diluted	$(0.24)	$0.12

Tags: INTC