Slide 1: Earnings
Ol Earnings April 23'¢, 2026 intel
Slide 2: 1st Quarter Earnings Presentation
1st Quarter Earnings Presentation Lip-Bu Tan David Zinsner Chief Executive Officer Chief Financial Officer
Slide 3: Non-GAAP measures and forward-looking statements
• This presentation contains non-GAAP financial measures. Intel gross margin percentage, operating income, earnings per share attributable to Intel and adjusted free cash flow, including year-over-year comparisons, are presented on a non-GAAP basis. The Appendix provides reconciliations to the most
Slide 4: Tangible Progress Building the New Intel
Tangible Progress Building the New Intel Customer-centric, Engineering-focused; New and deepened customer relationships 6th Consecutive Quarter Exceeding Expectations Strong demand; Disciplined execution; Improving factory output Intel CPUs Foundational to Inference and Agentic CPU–to–Accelerator ra
Slide 5: Revenue, Gross Margin, EPS
Revenue Gross Margin 2 EPS 2 Up 7.2% YoY Up 1.8 ppts YoY 2 Up $0.16 YoY 2 $1.4B above Jan outlook 1 6.5 ppts above Jan outlook 1 $0.29 above Jan outlook 1 1 Comparisons are based on the mid-point of revenue outlook 2 Non-GAAP results shown; GAAP gross margin 39.4%, up 2.5 ppts YoY; GAAP EPS $(0.73),
Slide 6: Intel consolidated results
($B) Above seasonal Q1 on strong execution and $13.7 $13.7 growing supply $13.6 $12.7 $12.9 41.0% AI businesses grew double 40.0% 39.2% 37.9% digits YoY 29.7% Rapid decision-making leading to better results $1.5 $1.2 $1.7 $0.7 -$0.5 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Revenue GM% (non-GAAP) 1 Op Income/Lo
Slide 7: CCG
CCG ($B) Resilient demand despite growing inflationary pressure $8.5 $7.9 $8.2 $7.7 Series 3 is the best product $7.6 launch in five years 30.9% 31.6% 27.0% 32.6% Series 3 in market with 26.1% enthusiast, creator, commercial, and mainstream $2.4 $2.7 $2.5 $2.1 $2.2 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Segm
Slide 8: DCAI
DCAI ($B) Double-digit YoY growth expected to continue $5.1 $4.7 Multiple long-term supply $4.1 $4.1 $3.9 30.5% agreements with key 26.4% customers 23.4% 16.1% ASIC revenue nearly doubled 13.9% year-over-year $1.5 $1.3 $1.0 $0.6 $0.6 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Segment Revenue Segment Op Income/(L
Slide 9: Foundry
foundry ($B) Intel 7/4/3 improved output $5.4 and productivity $4.7 $4.4 $4.5 $4.2 Intel 18A and 14A progress ahead of expectations Expanding advanced -$2.3 -$2.3 -$2.5 -$2.4 packaging capacity to -$3.2 -45.0% support committed demand -49.7% -54.8% -55.7% -71.7% Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Segment
Slide 10: All Other
All Other ($M) Mobileye delivered a strong first quarter IMS backlog on mask writing $1,053 tools improving $993 $943 Altera deconsolidated in $628 Q3’25 10.9% $574 6.6% 10.1% 16.2% -1.4% $103 $69 $100 $102 -$8 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Segment Revenue Segment Op Income/(Loss) Segment OM% The “A
Slide 11: Outlook
Outlook intel.
Slide 12: Q2 2026 Outlook
Q2 2026 Outlook $13.8-14.8B 39.0% $0.20 Revenue Gross Margin 1 EPS 1 Up $1.4B YoY 2 Up 9.3 ppts YoY 2 Up $0.30 YoY 2 1. Non-GAAP Gross Margin and non-GAAP EPS guidance provided; reconciliations in Appendix 2. Revenue growth comparison, non-GAAP gross margin outlook and non-GAAP EPS attributable to I
Slide 13: Q&A
O&A
Slide 14: Appendix
Appendix
Slide 15: Non-GAAP reconciliation: gross margin, operating income, EPS
Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 (In Billions, Except Percentages and Per Share Amounts) GAAP gross margin percentage 36.9% 27.5% 38.2% 36.1% 39.4% Acquisition-related adjustments 0.9% 0.8% 0.7% 0.7% 0.7% Share-based compensation 1.4% 1.3% 1.0% 1.0% 0.9% Non-GAAP gross margin percentage 39.2%
Slide 16: Q2 2026 Outlook reconciliation
Q2 2026 Outlook1 Q2 2025 Actuals Approximately GAAP gross margin percentage 37.5% 27.5% Acquisition-related adjustments 0.7% 0.8% Share-based compensation 0.8% 1.3% Non-GAAP gross margin percentage 39.0% 29.7% GAAP earnings (loss) per share attributable to Intel—diluted $0.08 $(0.67) Acquisition-rel
Slide 17: Adjusted free cash flow reconciliation
(In Billions) Q1 2026 GAAP net cash provided by (used for) operating activities $1.1 Additions to property, plant, and equipment (gross capital expenditures) (5.0) Proceeds from capital-related government incentives 0.1 Partner contributions, net 2.0 Payments on finance leases (0.2) Adjusted free ca