Intel Corporation announced on Thursday that its fourth-quarter revenue of the fiscal year 2024 observed an annual decrease of 7% to land at $14.3 billion, while its GAAP diluted loss per share came in at $0.03, plummeting 105%.
Full-year revenue reached $53.1 billion, marking a 2% decrease year-over-year, while GAAP diluted loss per share for 2024 was recorded at $4.38 contrasted with $0.40 the year before. The company forecasted first-quarter 2025 revenue between $11.7 billion and $12.7 billion.
"The cost reduction plan we announced last year to improve the trajectory of the company is having an impact," Intel interim co-CEO David Zinsner remarked on the results. He noted that the Q1 outlook reflects "seasonal weakness" exacerbated by broader economic uncertainties, ongoing inventory adjustments, and competitive dynamics.
Following the release of the report, Intel's shares jumped 1.85% in the after-hours session at 4:20 pm ET.
