Slide 1: Earnings July 24 2025
O02 Earnings July 24 2025 intel.
Slide 2: 2nd Quarter Earnings Presentation
2nd Quarter Earnings Presentation Lip-Bu Tan David Zinsner Chief Executive Officer Executive Vice President and Chief Financial Officer
Slide 3: Non-GAAP 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. This presentation also contains forward-looking e
Slide 4: Solid Q2 Financial Results
Solid Q2 Financial Results Revenue above expectations. Profitability impacted by restructuring & impairments. Simplifying Operations, Improving Execution Majority of headcount actions complete, reducing layers & complexity. Laser Focused on Implementing the Strategy The “New” Intel will be customer-
Slide 5: Strategic priorities: Foundry, x86, AI, balance sheet
Disciplined Foundry Revitalize x86 ISA Address AI Opportunity Improve Balance Sheet Intel 18A Progressing Durable Ecosystem Position for Next Waves of AI Drive Operating Leverage Intel 14A Engagements Underway Best Products Win Silicon + Systems + Software Responsibly Deploy Capital Measured & Sensi
Slide 6: Revenue, Gross Margin, EPS
Revenue Gross Margin 2 EPS 3 Up 0.2% YoY Down 9.0 ppts YoY 2 Down $0.12 YoY 3 $1.1B above Apr outlook 1 6.8 ppts below Apr outlook 1 $0.10 below Apr outlook 1 1 Comparisons are based on the mid-point of revenue outlook 2 Non-GAAP results shown; GAAP gross margin 27.5%, down 7.9 ppts YoY 3 Non-GAAP r
Slide 7: Durable demand within our two largest markets
($B) Durable demand within our $14.3 two largest markets $12.8 $13.3 $12.7 $12.9 Actions taken to streamline the company 42.1% 38.7% 39.2% 29.7% Focused on improving 18.0% execution and profitability $1.4 $0.7 $0.0 -$0.5 -$2.4 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Revenue GM% (non-GAAP) 1 Op Income/Loss (no
Slide 8: Client and Data Center segment results
Segment Revenue Segment Revenue Segment Op Income Segment Op Income Segment OM% Segment OM% ($B) ($B) $8.8 $8.1 $4.4 $4.1 $3.9 $8.2 $7.9 $7.6 $3.8 $4.1 36.0% 36.4% 32.4% 30.9% 26.1% 13.9% 16.1% 6.4% 9.2% 8.6% $2.9 $3.2 $2.6 $2.4 $2.1 $0.6 $0.6 $0.2 $0.4 $0.4 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q2’24 Q3’24
Slide 9: Steady progress on Intel 18A
($B) Steady progress on Intel 18A $4.3 $4.7 $4.4 $4.3 $4.3 Intel 18A production wafers started in AZ Scale advanced packaging -$2.2 -$2.8 -$2.3 -$3.2 offerings -$5.8 -51.8% -49.7% -65.4% -71.7% -133.6% Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Segment Revenue Segment Op Income/Loss Segment OM%
Slide 10: All Other
All Other ($M) Altera stake sale expected to close in Q3 $1,113 $964 $943 $1,053 Mobileye improving financials YoY with strength $881 13.8% across the business 10.9% 6.6% 0.5% -5.2% $5 $154 $103 $69 -$46 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Segment Revenue Segment Op Income/Loss Segment OM% The “All Other"
Slide 11: Outlook
Outlook intel.
Slide 12: Q3 2025 Outlook: Revenue, Gross Margin, EPS
$12.6-13.6B 36.0% $0.00 Revenue Gross Margin EPS Down $0.2B YoY 1 Up 18 ppts YoY 1 Up $0.46 YoY 1 1. Revenue growth comparison, non-GAAP gross margin outlook and non-GAAP EPS attributable to Intel outlook based on the mid-point of the revenue range
Slide 13: Q&A
Slide 14: Appendix
Appendix
Slide 15: GAAP to non-GAAP reconciliation
Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 (In Billions, Except Percentages and Per Share Amounts) GAAP gross margin percentage 35.4% 15.0% 39.2% 36.9% 27.5% Acquisition-related adjustments 1.7% 1.7% 1.5% 0.9% 0.8% Share-based compensation 1.5% 1.3% 1.5% 1.4% 1.3% Non-GAAP gross margin percentage 38.7%
Slide 16: Q3 2025 Outlook reconciliation
Q3 2025 Outlook1 Q3 2024 Actuals Approximately GAAP gross margin percentage 34.1% 15.0% Acquisition-related adjustments 0.8% 1.7% Share-based compensation 1.1% 1.3% Non-GAAP gross margin percentage 36.0% 18.0% GAAP earnings (loss) per share attributable to Intel—diluted $(0.24) $(3.88) Acquisition-r
Slide 17: GAAP additions to property, plant and equipment
(In Billions) Full-Year 2025 Full-Year 2026 Approximately Approximately GAAP additions to property, plant and equipment (gross capital expenditures) $18.0 Proceeds from capital-related government incentives (3.0 – 5.0) Partner contributions, net (4.0 – 5.0) Non-GAAP net capital expenditures $8.0 - $
Slide 18: Adjusted free cash flow reconciliation
(In Billions) Q2 2025 GAAP net cash provided by (used for) operating activities $2.1 Additions to property, plant, and equipment (gross capital expenditures) (4.5) Proceeds from capital-related government incentives 0.1 Partner contributions, net 1.3 Net purchase of property, plant, and equipment (n