Intel Non-GAAP EPS of -$0.04 beats by $0.10, revenue of $11.7B beats by $570M
Intel press release (NASDAQ:INTC): Q1 Non-GAAP EPS of -$0.04  beats by $0.10.
Revenue of $11.7B (-36.4% Y/Y)  beats by $570M.
âWe hit key execution milestones in our data center roadmap and demonstrated the health of the process technology underpinning it. While we remain cautious on the macroeconomic outlook, we are focused on what we can control as we deliver on IDM 2.0: driving consistent execution across process and product roadmaps and advancing our foundry business to best position us to capitalize on the $1 trillion market opportunity ahead.â said Pat Gelsinger, Intel CEO.

âWe exceeded our first-quarter expectations on the top and bottom line, and continued to be disciplined on expense management as part of our commitment to drive efficiencies and cost savings. At the same time, we are prioritizing the investments needed to advance our strategy and establish an internal foundry model, one of the most consequential steps we are taking to deliver on IDM 2.0.â said David Zinsner, Intel CFO.

Q2 Outlook: Revenue $11.5 to 12.5B vs. consensus of $11.77B; Gross margin 37.5%; expecting second-quarter EPS of $(0.62); non-GAAP EPS of $(0.04) vs. consensus of $0.02.
Shares +2.6%.