The earnings call revealed positive revenue performance and strategic progress in organizational restructuring and foundry strategy. However, significant challenges remain in managing gross margins, server business competition, and CapEx constraints, leading to a mixed outlook.

Company Guidance -

Q3 2025

During the call, Intel provided several financial metrics and forward-looking guidance. In Q2 2025, Intel achieved a revenue of $12.9 billion, surpassing the high end of their guidance range. The non-GAAP gross margin was reported at 29.7%, and non-GAAP EPS was minus $0.10, impacted by approximately $800 million in noncash impairment charges and $200 million in onetime period costs. Looking ahead to Q3, Intel anticipates revenue between $12.6 billion and $13.6 billion, with a non-GAAP gross margin around 36% and breakeven EPS. For the fiscal year 2025, Intel aims to reduce operating expenses to $17 billion and plans further reductions to $16 billion in 2026. The company is also targeting a net capital expenditure of $8 billion to $11 billion for the year. Intel is focused on improving its balance sheet, emphasizing cash flow generation through operating leverage and capital spending management. Additionally, the company has already lowered its CapEx guidance by approximately $5 billion year-to-date and expects further reductions in 2026.

Revenue Exceeds Guidance

Revenue for Q2 2025 came in at $12.9 billion, surpassing the high end of the guidance range, driven by strong demand in client and data center segments.

Organizational Restructuring Progress

Intel completed actions to achieve a year-end target of 75,000 employees, reducing management layers by approximately 50% to streamline operations.

Foundry Strategy and Intel 18A Progress

Intel 18A reached key milestones with the start of production wafers in Arizona, preparing for a Q4 launch of Panther Lake, with a focus on building trust with customers.

Cost Management and Cash Flow Improvement

Intel lowered its CapEx guidance by $5 billion year-to-date and raised $900 million through Mobileye offering, aiming to deleverage the balance sheet.

Intel (INTC) Earnings, Revenues Date & History

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INTC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	0.01 / -	-0.46	―	―	―
Jul 24, 2025	2025 (Q2)	0.01 / -0.10	0.02	-600.00% (-0.12)
Apr 24, 2025	2025 (Q1)	<0.01 / 0.13	0.18	-27.78% (-0.05)
Jan 30, 2025	2024 (Q4)	0.12 / 0.13	0.54	-75.93% (-0.41)
Oct 31, 2024	2024 (Q3)	-0.02 / -0.46	0.41	-212.20% (-0.87)
Aug 01, 2024	2024 (Q2)	0.10 / 0.02	0.13	-84.62% (-0.11)
Apr 25, 2024	2024 (Q1)	0.14 / 0.18	-0.04	550.00% (+0.22)
Jan 25, 2024	2023 (Q4)	0.45 / 0.54	0.1	440.00% (+0.44)
Oct 26, 2023	2023 (Q3)	0.22 / 0.41	0.59	-30.51% (-0.18)
Jul 27, 2023	2023 (Q2)	-0.04 / 0.13	0.29	-55.17% (-0.16)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

INTC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 24, 2025	$22.63	$20.70	-8.53%
Apr 24, 2025	$21.49	$20.05	-6.70%
Jan 30, 2025	$20.01	$19.43	-2.90%
Oct 31, 2024	$21.52	$23.20	+7.81%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.