Name: Intel Corp. (NASDAQ:INTC) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Intel Corp., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Sep 26, 2026	Jun 27, 2026	Mar 28, 2026	Dec 27, 2025	Sep 27, 2025	Jun 28, 2025	Mar 29, 2025	Dec 28, 2024	Sep 28, 2024	Jun 29, 2024	Mar 30, 2024	Dec 30, 2023	Sep 30, 2023	Jul 1, 2023	Apr 1, 2023	Dec 31, 2022	Oct 1, 2022	Jul 2, 2022	Apr 2, 2022	Dec 25, 2021	Sep 25, 2021	Jun 26, 2021	Mar 27, 2021
Net revenue	16,513)	16,128)	13,577)	13,674)	13,653)	12,859)	12,667)	14,260)	13,284)	12,833)	12,724)	15,406)	14,158)	12,949)	11,715)	14,042)	15,338)	15,321)	18,353)	20,528)	19,192)	19,631)	19,673)
Cost of sales	(9,417)	(9,619)	(8,230)	(8,731)	(8,435)	(9,317)	(7,995)	(8,676)	(11,287)	(8,286)	(7,507)	(8,359)	(8,140)	(8,311)	(7,707)	(8,542)	(8,803)	(9,734)	(9,109)	(9,519)	(8,446)	(8,425)	(8,819)
Gross profit	7,096)	6,509)	5,347)	4,943)	5,218)	3,542)	4,672)	5,584)	1,997)	4,547)	5,217)	7,047)	6,018)	4,638)	4,008)	5,500)	6,535)	5,587)	9,244)	11,009)	10,746)	11,206)	10,854)
Research and development	(3,490)	(3,368)	(3,375)	(3,219)	(3,231)	(3,684)	(3,640)	(3,876)	(4,049)	(4,239)	(4,382)	(3,987)	(3,870)	(4,080)	(4,109)	(4,464)	(4,302)	(4,400)	(4,362)	(4,049)	(3,803)	(3,715)	(3,623)
Marketing, general, and administrative	(1,030)	(1,175)	(1,038)	(1,174)	(1,129)	(1,144)	(1,177)	(1,239)	(1,383)	(1,329)	(1,556)	(1,617)	(1,340)	(1,374)	(1,303)	(1,706)	(1,744)	(1,800)	(1,752)	(1,942)	(1,674)	(1,599)	(1,328)
Restructuring and other charges	(54)	(170)	(4,070)	30)	(175)	(1,890)	(156)	(57)	(5,622)	(943)	(348)	1,142)	(816)	(200)	(64)	(462)	(664)	(87)	1,211)	(29)	(42)	(346)	(2,209)
Operating expenses	(4,574)	(4,713)	(8,483)	(4,363)	(4,535)	(6,718)	(4,973)	(5,172)	(11,054)	(6,511)	(6,286)	(4,462)	(6,026)	(5,654)	(5,476)	(6,632)	(6,710)	(6,287)	(4,903)	(6,020)	(5,519)	(5,660)	(7,160)
Operating income (loss)	2,522)	1,796)	(3,136)	580)	683)	(3,176)	(301)	412)	(9,057)	(1,964)	(1,069)	2,585)	(8)	(1,016)	(1,468)	(1,132)	(175)	(700)	4,341)	4,989)	5,227)	5,546)	3,694)
Gains (losses) on equity investments, net	330)	(39)	(72)	(97)	221)	502)	(112)	316)	(159)	(120)	205)	86)	(191)	(24)	169)	186)	(151)	(90)	4,323)	359)	1,707)	295)	368)
Interest and other, net	1,130)	(12,576)	(738)	(145)	3,670)	(95)	(173)	(129)	130)	80)	145)	117)	147)	224)	141)	150)	138)	(119)	997)	(154)	(76)	(96)	(156)
Income (loss) before taxes	3,982)	(10,819)	(3,946)	338)	4,574)	(2,769)	(586)	599)	(9,086)	(2,004)	(719)	2,788)	(52)	(816)	(1,158)	(796)	(188)	(909)	9,661)	5,194)	6,858)	5,745)	3,906)
(Provision for) benefit from taxes	(462)	(29)	(335)	(671)	(304)	(255)	(301)	(752)	(7,903)	350)	282)	(128)	362)	2,289)	(1,610)	135)	1,207)	455)	(1,548)	(571)	(35)	(684)	(545)
Net income (loss)	3,520)	(10,848)	(4,281)	(333)	4,270)	(3,024)	(887)	(153)	(16,989)	(1,654)	(437)	2,660)	310)	1,473)	(2,768)	(661)	1,019)	(454)	8,113)	4,623)	6,823)	5,061)	3,361)
Net (income) loss attributable to non-controlling interests	(200)	(185)	553)	(258)	(207)	106)	66)	27)	350)	44)	56)	9)	(13)	8)	10)	(3)	—)	—)	—)	—)	—)	—)	—)
Net income (loss) attributable to Intel	3,320)	(11,033)	(3,728)	(591)	4,063)	(2,918)	(821)	(126)	(16,639)	(1,610)	(381)	2,669)	297)	1,481)	(2,758)	(664)	1,019)	(454)	8,113)	4,623)	6,823)	5,061)	3,361)

The financial performance exhibits a period of significant volatility characterized by a contraction in revenue, fluctuating gross margins, and substantial impact from non-recurring charges. After a period of decline between 2021 and 2023, there is an observable recovery trend in both top-line revenue and gross profitability toward the end of the analyzed period.

Revenue Trends: Net revenue peaked in late 2021 at approximately 20.5 billion US$, followed by a steady decline to a trough of 11.7 billion US$ in April 2023. From mid-2023 through 2026, revenue stabilized and began a gradual ascent, ending the period at 16.5 billion US$ in September 2026.
Gross Profitability: Gross profit experienced a severe contraction, falling from levels above 10 billion US$ in 2021 to a low of approximately 2 billion US$ in September 2024. This decline indicates significant pressure on production costs or pricing power. However, a recovery trend is evident from 2025 onward, with gross profit returning to 7.1 billion US$ by September 2026.
Operating Expense Management: Research and development spending remained relatively consistent, generally fluctuating between 3.2 billion US$ and 4.4 billion US$. Marketing and general administrative expenses showed a gradual downward trend, indicating a tightening of operational overhead. In contrast, restructuring and other charges were highly volatile, with massive spikes in September 2024 and March 2026, which heavily distorted operating results.
Operating Income Stability: Operating income shifted from consistent profitability in 2021 to a pattern of frequent losses between 2022 and 2025. A notable operational nadir occurred in September 2024 with an operating loss of 9.1 billion US$. The trend reversed in 2026, returning to a positive operating income of 2.5 billion US$ by the final quarter.
Net Income and Non-Operating Impact: The bottom line was characterized by extreme instability. While the company achieved significant net income in early 2022, it suffered substantial net losses in September 2024 and June 2026. The loss in June 2026 was particularly acute, driven by a massive negative swing in interest and other net items totaling 12.6 billion US$, which offset operational gains.

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Intel Corp. (NASDAQ:INTC)

Income StatementQuarterly Data

Income Statement
Quarterly Data