NASDAQ$INTC

Intel · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Intel's Q1 2022 financial results were reported, exceeding expectations for revenue and EPS.

Intel reported a strong start to the year with Q1 2022 financial results exceeding expectations. GAAP revenue was $18.4 billion, down 7% year over year, while non-GAAP revenue was $18.4 billion, down 1% year over year. GAAP EPS was $1.98, and non-GAAP EPS was $0.87, exceeding January guidance.

  • First-quarter GAAP revenue of $18.4 billion, down 7% year over year (YoY).
  • First-quarter GAAP earnings-per-share (EPS) was $1.98.
  • Reaffirming full-year 2022 revenue guidance.
  • Achieved record quarterly revenue in Intel's Network and Edge Group, Mobileye and Intel Foundry Services businesses.

Headline financials

Total Revenue

$18.4B

Previous: $19.7B-6.7%
EPS (adj)

$0.87

Previous: $1.39-37.4%
Gross Margin

50.4%

No prior period
Operating Margin

23.7%

No prior period
Tax Rate

16.0%

No prior period
Capital Expenditures

-$4.6B

Previous: -$3.97B-15.9%
Free Cash Flow

$3.51B

Previous: -$611M+674.3%
Net Income

$8.11B

Previous: $3.36B+141.4%
Operating Income

$4.34B

Previous: $3.69B+17.5%
Gross Profit

$9.24B

Previous: $10.9B-14.8%
Cash & Equivalents

$6.22B

Previous: $5.19B+19.7%
Total Assets

$176B

Previous: $151B+17.1%
Stock-Based Comp

$707M

Previous: $425M+66.4%

Revenue & EPS history

Intel · Revenue · Quarterly

$18.4B

Q1 2022-6.7%vs Q1 2021
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Intel · $15.4B total across 3 segments · Q1 2022

  • Client Computing
    $9.29B-12.4%
  • Data Center and AI
    $6.03B+8.4%
  • All Other
    $67M

Forward guidance

Intel's guidance for the second quarter and full year includes both GAAP and non-GAAP estimates.

Tailwinds

  • Q2 2022 Revenue approximately $18.0 billion
  • Q2 2022 Non-GAAP Gross Margin 51%
  • Q2 2022 Non-GAAP Earnings per share $0.70
  • Full-Year 2022 Revenue approximately $76.0 billion
  • Full-Year 2022 Non-GAAP Gross Margin 52%

Headwinds

  • Q2 2022 GAAP Gross Margin 48%
  • Q2 2022 GAAP Earnings per share $0.50
  • Q2 2022 Tax rate 4%
  • Full-Year 2022 GAAP Gross Margin 49%
  • Full-Year 2022 GAAP Earnings per share $4.19

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-1.4%

Avg return

Earnings day

-1.4%

Avg return

5 days after

-0.7%

Avg return

30 days after

44%

32 / 73 earnings

Positive

+10.0%

Q4 2017

Best reaction

-30.1%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+6.0%+41.9%+79.5%
Q4 2025-11.4%-10.2%-18.8%
Q3 2025-7.0%+8.3%-9.6%
Q2 2025+1.9%+8.5%+10.4%
Q1 2025-6.7%-6.5%-6.7%
Q4 2024-2.9%-1.8%+18.6%
Q3 2024+4.0%+4.6%+7.8%
Q2 2024-30.1%-35.5%-28.3%
Q1 2024-7.6%-11.7%-11.0%
Q4 2023-11.1%-12.6%-12.4%
Q3 2023+8.3%+11.2%+33.9%
Q2 2023+7.2%+4.2%-3.2%
Q1 2023+6.9%+2.5%-0.2%
Q4 2022-5.2%-4.8%-15.4%
Q3 2022+6.8%+4.0%+7.8%
Q2 2022-9.6%-10.4%-17.0%
Q1 2022-3.6%-0.4%-1.5%
Q4 2021-5.8%-4.3%-6.5%
Q3 2021-10.7%-12.8%-10.6%
Q2 2021-5.7%-5.4%-7.5%
Q1 2021-7.0%-9.0%-12.0%
Q4 2020-3.4%+1.8%+8.5%
Q3 2020-9.9%-14.7%-15.2%
Q2 2020-17.1%-19.3%-19.3%
Q1 2020-1.4%-2.2%+3.6%
Q4 2019+9.2%+7.3%+2.6%
Q3 2019+9.2%+8.9%+11.4%
Q2 2019-2.5%-2.3%-15.0%
Q1 2019-10.7%-13.1%-24.1%
Q4 2018-1.9%-2.9%+9.5%
Q3 2018+7.7%+12.6%+9.7%
Q2 2018-9.1%-8.3%-9.1%
Q1 2018+2.6%+3.8%+7.9%
Q4 2017+10.0%+7.2%+4.9%
Q3 2017+8.9%+11.5%+9.7%
Q2 2017+1.6%+4.6%-0.2%
Q1 2017-2.1%+0.1%-1.8%
Q4 2016+0.5%-2.6%-3.4%
Q3 2016-4.8%-5.7%-6.1%
Q2 2016-2.5%-1.3%+0.3%
Q1 2016+1.1%
Q4 2015-6.7%
Q3 2015+1.8%
Q2 2015+0.8%
Q1 2015+3.5%
Q4 2014+0.3%
Q3 2014-0.6%
Q2 2014+10.0%
Q1 2014+1.4%
Q4 2013-3.1%
Q3 2013+1.1%
Q2 2013-4.2%
Q1 2013+2.6%
Q4 2012-3.9%
Q3 2012+0.3%
Q2 2012+4.3%
Q1 2012-1.6%
Q4 2011-0.1%
Q3 2011+0.3%
Q2 2011-0.9%
Q1 2011-1.2%
Q4 2010-0.7%
Q4 2008-0.7%
Q3 2010-0.4%
Q2 2010+0.6%
Q4 2009+0.6%
Q1 2009-1.2%
Q1 2010+0.4%
Q4 2007-2.1%
Q3 2009-3.2%
Q3 2008-3.2%
Q2 2009+0.4%
Q2 2008+0.4%

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