Intel expects these custom Intel ® Xeon ® solutions will bring greater levels of differentiation and a durable TCO advantage to AWS and its customers, including Intel. In the quarter, Intel agreed to expand its partnership with AWS to include the co-development of multi-generational data center solutions optimized for AWS infrastructure, and Intel as a strategic customer for internal workloads, including EDA. ▪ In DCAI, Intel expanded its supply agreement with Meta, leveraging its IDM advantage so that Meta can meet its expanding compute needs. ▪ In the second quarter, CCG launched the 12th generation Intel ® Core™ HX processors, the final products in Intel’s Alder Lake family, which is now powering more than 525 designs. During the quarter, Intel also launched the IFS Cloud Alliance, the next phase of its accelerator ecosystem program that will enable secure design environments in the cloud. ▪ IFS recently announced a strategic partnership with MediaTek to manufacture chips for a range of smart edge devices using Intel process technologies. The company expects Intel 4 to be ready for volume production in the second half of this year and is at or ahead of schedule for Intel 3, 20A and 18A. ▪ Intel made significant progress during the quarter on the ramp of Intel 7, now shipping in aggregate over 35 million units. All prior-period segment data has been retrospectively adjusted to reflect the way the company internally manages and monitors operating segment performance starting in fiscal year 2022.Īccelerated Computing Systems and Graphics Group (AXG) As a result, the company modified its segment reporting to align to the previously announced business reorganization. This includes the reorganization of Intel's business units to capture this growth and provide increased transparency, focus and accountability. Intel previously announced several organizational changes to accelerate its execution and innovation by allowing it to capture growth in both large traditional markets and high-growth emerging markets. "We remain fully committed to our business strategy, the long-term financial model communicated at our investor meeting and a strong and growing dividend." "We are taking necessary actions to manage through the current environment, including accelerating the deployment of our smart capital strategy, while reiterating our prior full-year adjusted free cash flow guidance and returning gross margins to our target range by the fourth quarter," said David Zinsner, Intel CFO. We are embracing this challenging environment to accelerate our transformation.” “We are being responsive to changing business conditions, working closely with our customers while remaining laser-focused on our strategy and long-term opportunities. The sudden and rapid decline in economic activity was the largest driver, but the shortfall also reflects our own execution issues,” said Pat Gelsinger, Intel CEO. “This quarter’s results were below the standards we have set for the company and our shareholders. SANTA CLARA, Calif., July 28, 2022 –Intel Corporation today reported second-quarter 2022 financial results. ▪ Revising full-year revenue guidance to $65 billion to $68 billion reiterating full-year adjusted free cash flow guidance. ▪ Second-quarter GAAP earnings per share (EPS) was $(0.11) non-GAAP EPS was $0.29. ▪ Intel’s Client Computing and Datacenter and AI Groups largely impacted by continued adverse market conditions Network and Edge Group and Mobileye achieved record quarterly revenue. ▪ Second-quarter GAAP revenue of $15.3 billion, down 22% year over year (YoY), and non-GAAP revenue of $15.3 billion, down 17% YoY.
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