SAN FRANCISCO, Jan. 30 (Xinhua) -- Intel Corporation reported on Thursday a drop in revenue in its fourth-quarter and full-year 2024 financial results.
Its fourth-quarter revenue was 14.3 billion U.S. dollars, marking a 7 percent year-over-year decline, while the full-year revenue totaled 53.1 billion dollars, down 2 percent from the previous year, it said.
The Net income attributable to Intel for the full year was 0.6 billion dollars, down 75 percent from 2.3 billion dollars a year ago.
The company's fourth-quarter earnings per share (EPS) attributable to Intel were negative 0.03 dollars, while non-GAAP EPS was 0.13 dollars; for the full year, EPS attributable to Intel was negative 4.38 dollars, and non-GAAP EPS was negative 0.13 dollars.
In the fourth quarter, the company generated 3.2 billion dollars in cash from operations. For the full year, Intel generated 8.3 billion dollars in cash from operations and paid dividends of 1.6 billion dollars.
"The fourth quarter was a positive step forward as we delivered revenue, gross margin and EPS above our guidance," said Michelle Johnston Holthaus, interim co-CEO of Intel and CEO of Intel Products. "Our renewed focus on strengthening and simplifying our product portfolio, combined with continued progress on our process roadmap, is positioning us to better serve the needs of our customers."
Intel forecasted its first-quarter 2025 revenue of 11.7 billion dollars to 12.7 billion dollars, expecting first-quarter EPS attributable to Intel of negative 0.27 dollars and non-GAAP EPS attributable to Intel of 0.00 dollar.
"We are fostering a culture of efficiency across the business while driving toward greater returns on our invested capital and improved profitability. Our Q1 outlook reflects seasonal weakness magnified by macro uncertainties, further inventory digestion and competitive dynamics. We will remain highly focused on execution to build on our progress and unlock value," said David Zinsner, interim co-CEO and chief financial officer of Intel. ■