Intel's Financial Struggle Continues

Intel Corporation has reported a significant downturn in its fourth-quarter revenue for the fiscal year 2024, with a 7% decrease to $14.3 billion. The tech giant also disclosed a GAAP diluted loss per share of $0.03, marking a 105% plunge.

Annual Performance Overview

The company's full-year revenue stood at $53.1 billion, reflecting a 2% decrease from the previous year. The GAAP diluted loss per share for 2024 was recorded at a staggering $4.38, compared to $0.40 in the prior year. Looking ahead, Intel has set its first-quarter 2025 revenue forecast between $11.7 billion and $12.7 billion.

Leadership's Perspective

David Zinsner, Intel's interim co-CEO, commented on the financial results, stating, "The cost reduction plan we announced last year to improve the trajectory of the company is having an impact." He attributed the Q1 outlook to "seasonal weakness" worsened by broader economic uncertainties, ongoing inventory adjustments, and competitive dynamics.

Market Reaction

Despite the challenging quarter, Intel's shares experienced a 1.85% increase in the after-hours trading session at 4:20 pm ET, signaling a mixed reaction from investors.