Analysis of Revenues
Revenues as Reported
Intel Corp., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).
The analysis of the revenue data over the most recent three reported years reveals notable shifts across various business segments. The overall net revenue demonstrates a declining trend, decreasing from $63,054 million in the year ending December 31, 2022, to $54,228 million in 2023, followed by a further slight decline to $53,101 million in 2024. This indicates a contraction in total sales over the observed period.
- Client Computing Group (CCG)
- Revenue within this segment decreased marginally from $31,773 million in 2022 to $29,258 million in 2023, then experienced a modest rebound to $30,290 million in 2024. Despite the rebound, the 2024 figure remains below the 2022 peak, reflecting some recovery but persistent softness relative to the initial reference point.
- Data Center and AI (DCAI)
- The Data Center and AI segment showed a pronounced decline, with revenues falling from $16,856 million in 2022 to $12,635 million in 2023 and a slight increase to $12,817 million in 2024. The substantial drop between 2022 and 2023 suggests challenges impacting this segment, with only a minimal recovery in the last year reported.
- Network and Edge (NEX)
- Revenues for the Network and Edge segment similarly declined sharply, from $8,409 million in 2022 to $5,774 million in 2023, followed by a modest increase to $5,842 million in 2024. This pattern mirrors that of the Data Center and AI segment but with generally lower absolute revenues.
- Intel Products
- Total revenue attributed to Intel Products dropped significantly, from $57,038 million in 2022 to $47,667 million in 2023 and then to $48,949 million in 2024. The large decrease in 2023 is partly recovered in 2024, yet the overall decline reflects substantial pressure on product sales or a shift in business mix.
- Intel Foundry
- The Foundry segment experienced a notable contraction, with revenue decreasing consistently from $27,491 million in 2022 to $18,910 million in 2023 and further down to $17,543 million in 2024. This continuing decline points to significant challenges or reduced demand within the foundry operations over the period.
- All other
- This category remained relatively stable between 2022 and 2023, with a slight increase from $5,530 million to $5,608 million, but dropped considerably to $3,824 million in 2024. This sharp fall in the latest year suggests that miscellaneous or other operations encountered difficulties or restructuring effects.
- Intersegment eliminations
- The intersegment eliminations became less negative from -$27,005 million in 2022 to -$17,957 million in 2023, and a slight moderation to -$17,215 million in 2024. This change reflects a reduction in internal transactions or transfers among segments, which may influence how revenues are consolidated.
In summary, the financial data depicts a general downward trajectory in revenue across most segments from 2022 to 2024, with some slight recoveries in 2024. The most significant declines are observed in Intel Products and Intel Foundry, while Client Computing Group shows some resilience. The declines in Data Center and AI and Network and Edge segments suggest broad operational challenges. Intersegment eliminations have decreased, potentially impacting the net reported revenue figures. Overall, the company faces contractionary pressures with signs of modest stabilization in the most recent year.