Intel Corp Files 8-K: Financials and Operations Update

TL;DR

INTC dropped an 8-K on 4/25 covering financials. Check it.

AI Summary

On April 25, 2024, Intel Corporation filed an 8-K report detailing its financial results and other relevant information. The filing includes information about its operations, financial condition, and exhibits, as is standard for a current report.

Why It Matters

This filing provides investors with timely information regarding Intel's financial performance and operational status, which can influence investment decisions.

Risk Assessment

Risk Level: low — This is a routine 8-K filing for financial reporting and does not indicate any unusual or high-risk events.

Key Players & Entities

• Intel Corporation (company) — Registrant
• 0000050863 (company) — Central Index Key
• 3674 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• CA (company) — State
• April 25, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value INTC Nasdaq Global Select Mar

Filing Documents

• intc-20240425.htm (8-K) — 31KB
• q124_earningsrelease.htm (EX-99.1) — 392KB
• form8-kexhibit992.htm (EX-99.2) — 68KB
• intc-20240425_g1.jpg (GRAPHIC) — 5KB
• unboxedlogo_20202a.jpg (GRAPHIC) — 24KB
• 0000050863-24-000074.txt ( ) — 696KB
• intc-20240425.xsd (EX-101.SCH) — 2KB
• intc-20240425_lab.xml (EX-101.LAB) — 21KB
• intc-20240425_pre.xml (EX-101.PRE) — 12KB
• intc-20240425_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On April 25, 2024, Intel Corporation ("Intel") issued a press release announcing the financial results of its first quarter ended March 30, 2024 and forward-looking statements relating to its second quarter of 2024. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. The attached press release includes non-GAAP financial measures relating to our operations and forecasted outlook. Certain of these non-GAAP measures will be used in Intel's earnings conference for the first quarter of 2024. In addition, the attached press release includes reconciliations of these non-GAAP measures to GAAP measures, as well as an explanation of how management uses these non-GAAP measures and the reasons why management views these measures as providing useful information for investors. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to these results should be carefully evaluated. The information in Item 2.02 of this Report and the press release attached hereto as Exhibit 99.1 are furnished and shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.

01 Regulation FD Disclosu r e

Item 7.01 Regulation FD Disclosu r e. Intel Corporation (the "Company") previously announced the implementation of our internal foundry operating model, which took effect in the first quarter of 2024, and creates a foundry relationship between our Intel Products business (collectively CCG, DCAI, and NEX) and our Intel Foundry business. Intel Products consists substantially of design and development of CPUs and related solutions for third party customers. Intel Foundry consists substantially of process engineering, manufacturing, and foundry services groups that provide manufacturing, test, and assembly services to our Intel Products business and to third party customers. Both businesses utilize marketing, sales, and other support functions. Our internal foundry model is a key component of our strategy and is designed to reshape our operational dynamics and drive greater transparency, accountability, and focus on costs and efficiency. We also previously announced our intent to operate Altera, an Intel company (previously Intel's Programmable Solutions Group), as a standalone business, with segment reporting beginning in the first quarter of 2024. Altera was previously included in our DCAI segment results. As a result of these changes, we modified our segment reporting in the first quarter of 2024 to align to this new operating model. All prior period segment data has been retrospectively adjusted to reflect the way our Chief Operating Decision Maker (CODM) internally receives information and manages and monitors our operating segment performance starting in fiscal year 2024. There are no changes to Intel's consolidated financial statements for 2023 or any other periods. On April 2, 2024 we furnished as an exhibit to a Current Report on Form 8-K a retrospective revision to Item 7 of Intel Corporation's Annual Report on Form 10-K "Management's Discussion and Analysis of Financial Condition and Results of Operations" for the year-ended December 30, 2023 (the "Retros

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibits are provided as part of this Report: Exhibit Number Description 99.1 Press Release entitled "Intel Reports First-Quarter 2024 Financial Results" dated April 25, 2024 . 99.2 Recast quarterly historical financial information for the year-ended December 30, 2023 ( unaudited) . 104 Cover Page Interactive Data File, formatted in Inline XBRL and included as Exhibit 101.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTEL CORPORATION (Registrant) Date: April 25, 2024 By: /s/ DAVID ZINSNER David Zinsner Executive Vice President, Chief Financial Officer, and Principal Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR