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Bharti Airtel, NTPC among 13 stocks to trade ex-dividend on Wednesday; last date to buy today
NTPC Share Price Live Updates: NTPC Closes at Rs 419.7 with 5.9% Weekly Return, Reflecting Investor Confidence - The Economic Times
BHEL, Bharti Airtel among 92 stocks with dividend, bonus, split next week. Do you own any?
Adani Power emerges top bidder for stressed KSK Mahanadi proj at Rs 27K-cr
Budget Technical Picks: BHEL, NTPC among 8 investment ideas with up to 22% upside - Budget Picks
NTPC Ltd spurts 1.78%, up for third straight session
NTPC Ltd rose for a third straight session today. The stock is quoting at Rs 423.4, up 1.78% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.16% on the day, quoting at 24990.95. The Sensex is at 81802.97, up 0.08%. NTPC Ltd has added around 14.31% in last one month. Meanwhile, Nifty Energy index of which NTPC Ltd is a constituent, has added around 7.21% in last one month and is currently quoting at 44086.8, up 1.45% on the day. The volume in the stock stood at 159.07 lakh shares today, compared to the daily average of 205.9 lakh shares in last one month. The benchmark August futures contract for the stock is quoting at Rs 421.5, up 1.69% on the day. NTPC Ltd is up 93.25% in last one year as compared to a 27.98% gain in NIFTY and a 69.72% gain in the Nifty Energy index.The PE of the stock is 22.51 based on TTM earnings ending June 24.Powered by Capital Market - Live
Price Updates: NTPC Hits New 52-Week High at Rs 419.90 with 0.94% Daily Gain - The Economic Times
NTPC, Tata Steel among top picks by Jigar S Patel of Anand Rathi for Aug 1
NSE: NTPC | BSE: 532555
410.65 2.95 ( 0.72 %)
11.7M NSE+BSE Volume
NSE 09 Aug, 2024 3:31 PM (IST)
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Market Leader
Net profit TTM
Net Profit Margin TTM %
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Amd reports second quarter 2024 financial results, related documents.
SANTA CLARA, Calif., July 30, 2024 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the second quarter of 2024 of $5.8 billion, gross margin of 49%, operating income of $269 million, net income of $265 million and diluted earnings per share of $0.16. On a non-GAAP ( *) basis, gross margin was 53%, operating income was $1.3 billion, net income was $1.1 billion and diluted earnings per share was $0.69.
“We delivered strong revenue and earnings growth in the second quarter driven by record Data Center segment revenue,” said AMD Chair and CEO Dr. Lisa Su. “Our AI business continued accelerating and we are well positioned to deliver strong revenue growth in the second half of the year led by demand for Instinct, EPYC and Ryzen processors. The rapid advances in generative AI are driving demand for more compute in every market, creating significant growth opportunities as we deliver leadership AI solutions across our business.”
“AMD executed well in the second quarter, with revenue above the midpoint of our guidance driven by strong growth in the Data Center and Client segments,” said AMD EVP, CFO and Treasurer Jean Hu. “In addition, we expanded gross margin and delivered solid earnings growth, while increasing our strategic AI investments to build the foundation for future growth.”
GAAP Quarterly Financial Results
Revenue ($M) | $5,835 | $5,359 | Up 9% | $5,473 | Up 7% | ||||||
Gross profit ($M) | $2,864 | $2,443 | Up 17% | $2,560 | Up 12% | ||||||
Gross margin | 49% | 46% | Up 3 ppts | 47% | Up 2 ppts | ||||||
Operating expenses ($M) | $2,605 | $2,471 | Up 5% | $2,537 | Up 3% | ||||||
Operating income (loss) ($M) | $269 | $(20) | Up 1,445% | $36 | Up 647% | ||||||
Operating margin | 5% | 0% | Up 5 ppts | 1% | Up 4 ppts | ||||||
Net income ($M) | $265 | $27 | Up 881% | $123 | Up 115% | ||||||
Diluted earnings per share | $0.16 | $0.02 | Up 700% | $0.07 | Up 129% |
Non-GAAP(*) Quarterly Financial Results
Revenue ($M) | $5,835 | $5,359 | Up 9% | $5,473 | Up 7% | ||||||
Gross profit ($M) | $3,101 | $2,665 | Up 16% | $2,861 | Up 8% | ||||||
Gross margin | 53% | 50% | Up 3 ppts | 52% | Up 1 ppt | ||||||
Operating expenses ($M) | $1,847 | $1,605 | Up 15% | $1,741 | Up 6% | ||||||
Operating income ($M) | $1,264 | $1,068 | Up 18% | $1,133 | Up 12% | ||||||
Operating margin | 22% | 20% | Up 2 ppts | 21% | Up 1 ppt | ||||||
Net income ($M) | $1,126 | $948 | Up 19% | $1,013 | Up 11% | ||||||
Diluted earnings per share | $0.69 | $0.58 | Up 19% | $0.62 | Up 11% |
Segment Summary
Recent PR Highlights
Current Outlook AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
For the third quarter of 2024, AMD expects revenue to be approximately $6.7 billion, plus or minus $300 million. At the mid-point of the revenue range, this represents year-over-year growth of approximately 16% and sequential growth of approximately 15%. Non-GAAP gross margin is expected to be approximately 53.5%.
AMD Teleconference AMD will hold a conference call for the financial community at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its second quarter 2024 financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com .
| | | |||||||||||
Stock-based compensation | 5 | 6 | 10 | ||||||||||
Amortization of acquisition-related intangibles | 231 | 230 | 212 | ||||||||||
Acquisition-related and other costs | 1 | — | — | ||||||||||
Inventory loss at contract manufacturer | — | 65 | — | ||||||||||
Stock-based compensation | 341 | 365 | 338 | ||||||||||
Amortization of acquisition-related intangibles | 372 | 392 | 481 | ||||||||||
Acquisition-related and other costs | 45 | 39 | 47 | ||||||||||
Stock-based compensation | 346 | 371 | 348 | ||||||||||
Amortization of acquisition-related intangibles | 603 | 622 | 693 | ||||||||||
Acquisition-related and other costs | 46 | 39 | 47 | ||||||||||
Inventory loss at contract manufacturer | — | 65 | — | ||||||||||
(Gains) losses on equity investments, net | — | — | 3 | — | 3 | — | |||||||||||||||||||
Stock-based compensation | 346 | 0.21 | 371 | 0.23 | 348 | 0.21 | |||||||||||||||||||
Equity income in investee | (7 | ) | — | (7 | ) | — | (6 | ) | — | ||||||||||||||||
Amortization of acquisition-related intangibles | 603 | 0.37 | 622 | 0.38 | 693 | 0.42 | |||||||||||||||||||
Acquisition-related and other costs | 46 | 0.03 | 39 | 0.02 | 47 | 0.03 | |||||||||||||||||||
Inventory loss at contract manufacturer | — | — | 65 | 0.04 | — | — | |||||||||||||||||||
Income tax provision | (127 | ) | (0.08 | ) | (203 | ) | (0.12 | ) | (164 | ) | (0.10 | ) | |||||||||||||
(1 | ) | Acquisition-related and other costs primarily comprised of transaction costs, purchase price adjustments for inventory, certain compensation charges, contract termination and workforce rebalancing charges. | |
(2 | ) | Inventory loss at contract manufacturer is related to an incident at a third-party contract manufacturing facility. |
About AMD For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website , blog , LinkedIn and X pages.
Cautionary Statement
This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as AMD’s expectations about revenue growth in the second half of 2024; AMD’s expectations about generative AI opportunities; AMD’s expectations about future growth; the features, functionality, performance, availability, timing and expected benefits of future AMD products; and AMD’s expected third quarter 2024 financial outlook, including revenue and non-GAAP gross margin, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; Nvidia’s dominance in the graphics processing unit market and its aggressive business practices; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; loss of a significant customer; competitive markets in which AMD’s products are sold; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to introduce products on a timely basis with expected features and performance levels; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD's supply chain; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; long-term impact of climate change on AMD’s business; impact of government actions and regulations such as export regulations, tariffs and trade protection measures; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit agreement; impact of acquisitions, joint ventures and/or investments on AMD’s business and AMD’s ability to integrate acquired businesses; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain qualified personnel; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.
(*) | In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2024, AMD uses a projected non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments, reflecting currently available information. AMD also provided adjusted EBITDA and free cash flow as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD’s Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables in this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD’s financial outlook, which is based on current expectations as of July 30, 2024 and assumptions and beliefs that involve numerous risks and uncertainties. Adjustments to arrive at the GAAP gross margin outlook typically include stock-based compensation, amortization of acquired intangible assets and acquisition-related and other costs. The timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD's control, therefore, a reconciliation to equivalent GAAP measures is not practicable at this time. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law. |
AMD, the AMD Arrow logo, EPYC, Radeon, Ryzen, Instinct, Versal, Alveo, Kria, FidelityFX, 3D V-Cache, Ultrascale+, Zynq, Threadripper and combinations thereof, are trademarks of Advanced Micro Devices, Inc.
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Three Months Ended | Six Months Ended | |||||||||||||||||||
June 29, 2024 | March 30, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023 | ||||||||||||||||
Net revenue | $ | 5,835 | $ | 5,473 | $ | 5,359 | $ | 11,308 | $ | 10,712 | ||||||||||
Cost of sales | 2,740 | 2,683 | 2,704 | 5,423 | 5,393 | |||||||||||||||
Amortization of acquisition-related intangibles | 231 | 230 | 212 | 461 | 517 | |||||||||||||||
Total cost of sales | 2,971 | 2,913 | 2,916 | 5,884 | 5,910 | |||||||||||||||
Gross profit | 2,864 | 2,560 | 2,443 | 5,424 | 4,802 | |||||||||||||||
Gross margin | 49 | % | 47 | % | 46 | % | 48 | % | 45 | % | ||||||||||
Research and development | 1,583 | 1,525 | 1,443 | 3,108 | 2,854 | |||||||||||||||
Marketing, general and administrative | 650 | 620 | 547 | 1,270 | 1,132 | |||||||||||||||
Amortization of acquisition-related intangibles | 372 | 392 | 481 | 764 | 999 | |||||||||||||||
Licensing gain | (10 | ) | (13 | ) | (8 | ) | (23 | ) | (18 | ) | ||||||||||
Operating income (loss) | 269 | 36 | (20 | ) | 305 | (165 | ) | |||||||||||||
Interest expense | (25 | ) | (25 | ) | (28 | ) | (50 | ) | (53 | ) | ||||||||||
Other income (expense), net | 55 | 53 | 46 | 108 | 89 | |||||||||||||||
Income (loss) before income taxes and equity income | 299 | 64 | (2 | ) | 363 | (129 | ) | |||||||||||||
Income tax provision (benefit) | 41 | (52 | ) | (23 | ) | (11 | ) | (10 | ) | |||||||||||
Equity income in investee | 7 | 7 | 6 | 14 | 7 | |||||||||||||||
Net income (loss) | $ | 265 | $ | 123 | $ | 27 | $ | 388 | $ | (112 | ) | |||||||||
Earnings (loss) per share | ||||||||||||||||||||
Basic | $ | 0.16 | $ | 0.08 | $ | 0.02 | $ | 0.24 | $ | (0.07 | ) | |||||||||
Diluted | $ | 0.16 | $ | 0.07 | $ | 0.02 | $ | 0.24 | $ | (0.07 | ) | |||||||||
Shares used in per share calculation | ||||||||||||||||||||
Basic | 1,618 | 1,617 | 1,612 | 1,617 | 1,612 | |||||||||||||||
Diluted | 1,637 | 1,639 | 1,627 | 1,638 | 1,612 |
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June 29, 2024 | December 30, 2023 | |||||||
(Unaudited) | ||||||||
Cash and cash equivalents | $ | 4,113 | $ | 3,933 | ||||
Short-term investments | 1,227 | 1,840 | ||||||
Accounts receivable, net | 5,749 | 5,376 | ||||||
Inventories | 4,991 | 4,351 | ||||||
Receivables from related parties | 24 | 9 | ||||||
Prepaid expenses and other current assets | 1,361 | 1,259 | ||||||
17,465 | 16,768 | |||||||
Property and equipment, net | 1,666 | 1,589 | ||||||
Operating lease right-of-use assets | 635 | 633 | ||||||
Goodwill | 24,262 | 24,262 | ||||||
Acquisition-related intangibles, net | 20,138 | 21,363 | ||||||
Investment: equity method | 113 | 99 | ||||||
Deferred tax assets | 617 | 366 | ||||||
Other non-current assets | 2,990 | 2,805 | ||||||
$ | 67,886 | $ | 67,885 | |||||
Accounts payable | $ | 1,699 | $ | 2,055 | ||||
Payables to related parties | 420 | 363 | ||||||
Accrued liabilities | 3,629 | 3,082 | ||||||
Current portion of long-term debt, net | — | 751 | ||||||
Other current liabilities | 447 | 438 | ||||||
6,195 | 6,689 | |||||||
Long-term debt, net of current portion | 1,719 | 1,717 | ||||||
Long-term operating lease liabilities | 526 | 535 | ||||||
Deferred tax liabilities | 1,192 | 1,202 | ||||||
Other long-term liabilities | 1,716 | 1,850 | ||||||
Capital stock: | ||||||||
Common stock, par value | 17 | 17 | ||||||
Additional paid-in capital | 60,542 | 59,676 | ||||||
Treasury stock, at cost | (5,103 | ) | (4,514 | ) | ||||
Retained earnings | 1,111 | 723 | ||||||
Accumulated other comprehensive loss | (29 | ) | (10 | ) | ||||
$ | 56,538 | $ | 55,892 | |||||
$ | 67,886 | $ | 67,885 |
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Three Months Ended | Six Months Ended | |||||||||||||||
June 29, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023 | |||||||||||||
Cash flows from operating activities: | ||||||||||||||||
Net income (loss) | $ | 265 | $ | 27 | $ | 388 | $ | (112 | ) | |||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||
Depreciation and amortization | 769 | 849 | 1,553 | 1,831 | ||||||||||||
Stock-based compensation | 346 | 348 | 717 | 657 | ||||||||||||
Amortization of operating lease right-of-use assets | 26 | 24 | 52 | 48 | ||||||||||||
Deferred income taxes | (190 | ) | (274 | ) | (256 | ) | (582 | ) | ||||||||
Inventory loss at contract manufacturer | — | — | 65 | — | ||||||||||||
Other | (15 | ) | (13 | ) | (37 | ) | (8 | ) | ||||||||
Changes in operating assets and liabilities | ||||||||||||||||
Accounts receivable, net | (711 | ) | (272 | ) | (373 | ) | (186 | ) | ||||||||
Inventories | (342 | ) | (332 | ) | (710 | ) | (796 | ) | ||||||||
Prepaid expenses and other assets | 88 | (46 | ) | (234 | ) | (237 | ) | |||||||||
Receivables from and payables to related parties, net | (11 | ) | (41 | ) | 42 | (150 | ) | |||||||||
Accounts payable | 280 | 236 | (356 | ) | 309 | |||||||||||
Accrued and other liabilities | 88 | (127 | ) | 263 | 91 | |||||||||||
Net cash provided by operating activities | 593 | 379 | 1,114 | 865 | ||||||||||||
Cash flows from investing activities: | ||||||||||||||||
Purchases of property and equipment | (154 | ) | (125 | ) | (296 | ) | (283 | ) | ||||||||
Purchases of short-term investments | (132 | ) | (1,113 | ) | (565 | ) | (2,816 | ) | ||||||||
Proceeds from maturity of short-term investments | 761 | 698 | 1,202 | 1,171 | ||||||||||||
Proceeds from sale of short-term investments | — | 103 | 2 | 248 | ||||||||||||
Other | (89 | ) | (1 | ) | (92 | ) | 5 | |||||||||
Net cash provided by (used in) investing activities | 386 | (438 | ) | 251 | (1,675 | ) | ||||||||||
Cash flows from financing activities: | ||||||||||||||||
Repayment of debt | (750 | ) | — | (750 | ) | — | ||||||||||
Proceeds from sales of common stock through employee equity plans | 143 | 141 | 148 | 144 | ||||||||||||
Repurchases of common stock | (352 | ) | — | (356 | ) | (241 | ) | |||||||||
Common stock repurchases for tax withholding on employee equity plans | (97 | ) | (66 | ) | (226 | ) | (87 | ) | ||||||||
Other | — | — | (1 | ) | — | |||||||||||
Net cash used in financing activities | (1,056 | ) | 75 | (1,185 | ) | (184 | ) | |||||||||
Net increase (decrease) in cash and cash equivalents | (77 | ) | 16 | 180 | (994 | ) | ||||||||||
Cash and cash equivalents at beginning of period | 4,190 | 3,825 | 3,933 | 4,835 | ||||||||||||
Cash and cash equivalents at end of period | $ | 4,113 | $ | 3,841 | $ | 4,113 | $ | 3,841 |
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Three Months Ended | Six Months Ended | |||||||||||||||||||
June 29, 2024 | March 30, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023 | ||||||||||||||||
Data Center | ||||||||||||||||||||
Net revenue | $ | 2,834 | $ | 2,337 | $ | 1,321 | $ | 5,171 | $ | 2,616 | ||||||||||
Operating income | $ | 743 | $ | 541 | $ | 147 | $ | 1,284 | $ | 295 | ||||||||||
Client | ||||||||||||||||||||
Net revenue | $ | 1,492 | $ | 1,368 | $ | 998 | $ | 2,860 | $ | 1,737 | ||||||||||
Operating income (loss) | $ | 89 | $ | 86 | $ | (69 | ) | $ | 175 | $ | (241 | ) | ||||||||
Gaming | ||||||||||||||||||||
Net revenue | $ | 648 | $ | 922 | $ | 1,581 | $ | 1,570 | $ | 3,338 | ||||||||||
Operating income | $ | 77 | $ | 151 | $ | 225 | $ | 228 | $ | 539 | ||||||||||
Embedded | ||||||||||||||||||||
Net revenue | $ | 861 | $ | 846 | $ | 1,459 | $ | 1,707 | $ | 3,021 | ||||||||||
Operating income | $ | 345 | $ | 342 | $ | 757 | $ | 687 | $ | 1,555 | ||||||||||
All Other | ||||||||||||||||||||
Net revenue | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Operating loss | $ | (985 | ) | $ | (1,084 | ) | $ | (1,080 | ) | $ | (2,069 | ) | $ | (2,313 | ) | |||||
Capital expenditures | $ | 154 | $ | 142 | $ | 125 | $ | 296 | $ | 283 | ||||||||||
Adjusted EBITDA | $ | 1,430 | $ | 1,295 | $ | 1,224 | $ | 2,725 | $ | 2,481 | ||||||||||
Cash, cash equivalents and short-term investments | $ | 5,340 | $ | 6,035 | $ | 6,285 | $ | 5,340 | $ | 6,285 | ||||||||||
Free cash flow | $ | 439 | $ | 379 | $ | 254 | $ | 818 | $ | 582 | ||||||||||
Total assets | $ | 67,886 | $ | 67,895 | $ | 67,967 | $ | 67,886 | $ | 67,967 | ||||||||||
Total debt | $ | 1,719 | $ | 2,468 | $ | 2,467 | $ | 1,719 | $ | 2,467 |
(1) | The Data Center segment primarily includes server microprocessors (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), Smart Network Interface Cards (SmartNICs), Artificial Intelligence (AI) accelerators and Adaptive System-on-Chip (SoC) products for data centers. | ||
The Client segment primarily includes CPUs, APUs, and chipsets for desktop, notebook and handheld personal computers. | |||
The Gaming segment primarily includes discrete GPUs, and semi-custom SoC products and development services. | |||
The Embedded segment primarily includes embedded CPUs, GPUs, APUs, FPGAs, System on Modules (SOMs), and Adaptive SoC products. | |||
From time to time, the Company may also sell or license portions of its IP portfolio. | |||
All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangible asset, employee stock-based compensation expense, acquisition-related and other costs, inventory loss at contract manufacturer, and licensing gain. |
(2) |
Three Months Ended | Six Months Ended | |||||||||||||||||||
(Millions) (Unaudited) | June 29, 2024 | March 30, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023 | |||||||||||||||
GAAP net income (loss) | $ | 265 | $ | 123 | $ | 27 | $ | 388 | $ | (112 | ) | |||||||||
Interest expense | 25 | 25 | 28 | 50 | 53 | |||||||||||||||
Other (income) expense, net | (55 | ) | (53 | ) | (46 | ) | (108 | ) | (89 | ) | ||||||||||
Income tax provision (benefit) | 41 | (52 | ) | (23 | ) | (11 | ) | (10 | ) | |||||||||||
Equity income in investee | (7 | ) | (7 | ) | (6 | ) | (14 | ) | (7 | ) | ||||||||||
Stock-based compensation | 346 | 371 | 348 | 717 | 653 | |||||||||||||||
Depreciation and amortization | 166 | 162 | 156 | 328 | 315 | |||||||||||||||
Amortization of acquisition-related intangibles | 603 | 622 | 693 | 1,225 | 1,516 | |||||||||||||||
Inventory loss at contract manufacturer | — | 65 | — | 65 | — | |||||||||||||||
Acquisition-related and other costs | 46 | 39 | 47 | 85 | 162 | |||||||||||||||
Adjusted EBITDA | $ | 1,430 | $ | 1,295 | $ | 1,224 | $ | 2,725 | $ | 2,481 | ||||||||||
The Company presents “Adjusted EBITDA” as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income (loss) for interest expense, other income (expense), net, income tax provision (benefit), equity income in investee, stock-based compensation, depreciation and amortization expense (including amortization of acquisition-related intangibles), inventory loss at contract manufacturer, and acquisition-related and other costs. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company’s calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows.
(3) |
Three Months Ended | Six Months Ended | |||||||||||||||||||
(Millions except percentages) (Unaudited) | June 29, 2024 | March 30, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023 | |||||||||||||||
GAAP net cash provided by operating activities | $ | 593 | $ | 521 | $ | 379 | $ | 1,114 | $ | 865 | ||||||||||
Purchases of property and equipment | (154 | ) | (142 | ) | (125 | ) | (296 | ) | (283 | ) | ||||||||||
Free cash flow | $ | 439 | $ | 379 | $ | 254 | $ | 818 | $ | 582 | ||||||||||
The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities for capital expenditures, and free cash flow margin % is free cash flow expressed as a percentage of the Company's net revenue. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company’s calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities.
Media Contact: Drew Prairie AMD Communications 512-602-4425 [email protected] Investor Contact: Mitch Haws AMD Investor Relations 408-749-3124 [email protected]
Released July 30, 2024
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Intel reports second-quarter 2024 financial results; announces $10 billion cost reduction plan to increase efficiency and market competitiveness, related documents.
NEWS SUMMARY
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intel Corporation today reported second-quarter 2024 financial results.
“Our Q2 financial performance was disappointing, even as we hit key product and process technology milestones. Second-half trends are more challenging than we previously expected, and we are leveraging our new operating model to take decisive actions that will improve operating and capital efficiencies while accelerating our IDM 2.0 transformation,” said Pat Gelsinger, Intel CEO. “These actions, combined with the launch of Intel 18A next year to regain process technology leadership, will strengthen our position in the market, improve our profitability and create shareholder value.”
“Second-quarter results were impacted by gross margin headwinds from the accelerated ramp of our AI PC product, higher than typical charges related to non-core businesses and the impact from unused capacity,” said David Zinsner, Intel CFO. “By implementing our spending reductions, we are taking proactive steps to improve our profits and strengthen our balance sheet. We expect these actions to meaningfully improve liquidity and reduce our debt balance while enabling us to make the right investments to drive long-term value for shareholders.”
Cost-Reduction Plan
As Intel nears the completion of rebuilding a sustainable engine of process technology leadership, it announced a series of initiatives to create a sustainable financial engine that accelerates profitable growth, enables further operational efficiency and agility, and creates capacity for ongoing strategic investment in technology and manufacturing leadership. These initiatives follow the establishment of separate financial reporting for Intel Products and Intel Foundry, which provides a "clean sheet" view of the business and has uncovered significant opportunities to drive meaningful operational and cost efficiencies. The actions include structural and operating realignment across the company, headcount reductions, and operating expense and capital expenditure reductions of more than $10 billion in 2025 compared to previous estimates. As a result of these actions, Intel aims to achieve clear line of sight toward a sustainable business model with the ongoing financial resources and liquidity needed to support the company’s long-term strategy.
The plan will enable the next phase of the company’s multiyear transformation strategy, and is focused on four key priorities:
Intel is taking the added step of suspending the dividend starting in the fourth quarter, recognizing the importance of prioritizing liquidity to support the investments needed to execute its strategy. The company reiterates its long-term commitment to a competitive dividend as cash flows improve to sustainably higher levels.
Q2 2024 Financial Highlights
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Revenue ($B) | $12.8 | $12.9 | down 1% |
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Gross Margin | 35.4% | 35.8% | down 0.4 ppt | 38.7% | 39.8% | down 1.1 ppts | ||||||
R&D and MG&A ($B) | $5.6 | $5.5 | up 2% | $4.9 | $4.7 | up 5% | ||||||
Operating Margin | (15.3)% | (7.8)% | down 7.5 ppts | 0.2% | 3.5% | down 3.3 ppts | ||||||
Tax Rate | 17.5% | 280.5% | n/m** | 13.0% | 13.0% | — | ||||||
Net Income (loss) Attributable to Intel ($B) | $(1.6) | $1.5 | n/m** | $0.1 | $0.5 | down 85% | ||||||
Earnings (loss) Per Share Attributable to Intel | $(0.38) | $0.35 | n/m** | $0.02 | $0.13 | down 85% |
In the second quarter, the company generated $2.3 billion in cash from operations and paid dividends of $0.5 billion.
| |
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Business Unit Summary
Intel previously announced the implementation of an internal foundry operating model, which took effect in the first quarter of 2024 and created a foundry relationship between its Intel Products business (collectively CCG, DCAI and NEX) and its Intel Foundry business (including Foundry Technology Development, Foundry Manufacturing and Supply Chain, and Foundry Services (formerly IFS)). The foundry operating model is a key component of the company's strategy and is designed to reshape operational dynamics and drive greater transparency, accountability, and focus on costs and efficiency. The company also previously announced its intent to operate Altera ® as a standalone business beginning in the first quarter of 2024. Altera was previously included in DCAI's segment results. As a result of these changes, the company modified its segment reporting in the first quarter of 2024 to align to this new operating model. All prior-period segment data has been retrospectively adjusted to reflect the way the company internally receives information and manages and monitors its operating segment performance starting in fiscal year 2024. There are no changes to Intel’s consolidated financial statements for any prior periods.
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Intel Products: |
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Client Computing Group (CCG) | $7.4 billion | up 9% | ||
Data Center and AI (DCAI) | $3.0 billion | down 3% | ||
Network and Edge (NEX) | $1.3 billion | down 1% | ||
Total Intel Products revenue | $11.8 billion | up 4% | ||
Intel Foundry | $4.3 billion | up 4% | ||
All other: |
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Altera | $361 million | down 57% | ||
Mobileye | $440 million | down 3% | ||
Other | $167 million | up 43% | ||
Total all other revenue | $968 million | down 32% | ||
Intersegment eliminations | $(4.3) billion |
| ||
Total net revenue | $12.8 billion | down 1% |
Intel Products Highlights
Intel Foundry Highlights
Other Highlights
Intel announced its second Semiconductor Co-Investment Program (SCIP) agreement, the formation of a joint venture with Apollo related to Intel’s Fab 34 in Ireland. SCIP is an element of Intel’s Smart Capital strategy, a funding approach designed to create financial flexibility to accelerate the company’s strategy, including investing in its global manufacturing operations, while maintaining a strong balance sheet.
Q3 2024 Dividend
The company announced that its board of directors has declared a quarterly dividend of $0.125 per share on the company’s common stock, which will be payable Sept. 1, 2024, to shareholders of record as of Aug. 7, 2024.
As noted earlier, Intel is suspending the dividend starting in the fourth quarter.
Business Outlook
Intel's guidance for the third quarter of 2024 includes both GAAP and non-GAAP estimates as follows:
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Revenue |
| $12.5-13.5 billion |
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Gross Margin |
| 34.5% |
| 38.0% |
Tax Rate |
| 34% |
| 13% |
Earnings (Loss) Per Share Attributable to Intel—Diluted |
| $(0.24) |
| $(0.03) |
Reconciliations between GAAP and non-GAAP financial measures are included below. Actual results may differ materially from Intel’s business outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below. The gross margin and EPS outlook are based on the mid-point of the revenue range.
Earnings Webcast
Intel will hold a public webcast at 2 p.m. PDT today to discuss the results for its second quarter of 2024. The live public webcast can be accessed on Intel's Investor Relations website at www.intc.com . The corresponding earnings presentation and webcast replay will also be available on the site.
Forward-Looking Statements
This release contains forward-looking statements that involve a number of risks and uncertainties. Words such as "accelerate", "achieve", "aim", "ambitions", "anticipate", "believe", "committed", "continue", "could", "designed", "estimate", "expect", "forecast", "future", "goals", "grow", "guidance", "intend", "likely", "may", "might", "milestones", "next generation", "objective", "on track", "opportunity", "outlook", "pending", "plan", "position", "possible", "potential", "predict", "progress", "ramp", "roadmap", "seek", "should", "strive", "targets", "to be", "upcoming", "will", "would", and variations of such words and similar expressions are intended to identify such forward-looking statements, which may include statements regarding:
Such statements involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied, including those associated with:
Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made in this release and in other documents we file from time to time with the SEC that disclose risks and uncertainties that may affect our business.
Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this filing. In addition, the forward-looking statements in this release are based on management's expectations as of the date of this release, unless an earlier date is specified, including expectations based on third-party information and projections that management believes to be reputable. We do not undertake, and expressly disclaim any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law.
About Intel
Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.
© Intel Corporation. Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.
Intel Corporation | ||||||||
Consolidated Condensed Statements of Income and Other Information | ||||||||
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Cost of sales |
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| 8,286 |
|
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| 8,311 |
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Research and development |
|
| 4,239 |
|
|
| 4,080 |
|
Marketing, general, and administrative |
|
| 1,329 |
|
|
| 1,374 |
|
Restructuring and other charges |
|
| 943 |
|
|
| 200 |
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Gains (losses) on equity investments, net |
|
| (120 | ) |
|
| (24 | ) |
Interest and other, net |
|
| 80 |
|
|
| 224 |
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Provision for (benefit from) taxes |
|
| (350 | ) |
|
| (2,289 | ) |
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Less: Net income (loss) attributable to non-controlling interests |
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| (44 | ) |
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| (8 | ) |
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Weighted average shares of common stock outstanding: |
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Dilutive effect of employee equity incentive plans |
|
| — |
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| 14 |
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Employees |
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Intel | 116.5 | 116.4 | 118.1 | |||
Mobileye and other subsidiaries | 5.3 | 5.2 | 4.7 | |||
NAND | 3.5 | 3.6 | 4.0 | |||
Total Intel |
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|
|
Employees of the NAND memory business, which we divested to SK hynix on completion of the first closing on December 29, 2021 and fully deconsolidated in Q1 2022. Upon completion of the second closing of the divestiture, which remains pending and subject to closing conditions, the NAND employees will be excluded from the total Intel employee number. |
Intel Corporation | ||||||||
Consolidated Condensed Balance Sheets | ||||||||
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| ||||
Current assets: |
|
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|
| ||||
Cash and cash equivalents |
| $ | 11,287 |
|
| $ | 7,079 |
|
Short-term investments |
|
| 17,986 |
|
|
| 17,955 |
|
Accounts receivable, net |
|
| 3,131 |
|
|
| 3,402 |
|
Inventories |
|
|
|
| ||||
Raw materials |
|
| 1,284 |
|
|
| 1,166 |
|
Work in process |
|
| 6,294 |
|
|
| 6,203 |
|
Finished goods |
|
| 3,666 |
|
|
| 3,758 |
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|
|
|
|
|
|
|
|
Other current assets |
|
| 7,181 |
|
|
| 3,706 |
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Current liabilities: |
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|
| ||||
Short-term debt |
| $ | 4,695 |
|
| $ | 2,288 |
|
Accounts payable |
|
| 9,618 |
|
|
| 8,578 |
|
Accrued compensation and benefits |
|
| 2,651 |
|
|
| 3,655 |
|
Income taxes payable |
|
| 1,856 |
|
|
| 1,107 |
|
Other accrued liabilities |
|
| 13,207 |
|
|
| 12,425 |
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Stockholders’ equity: |
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|
| ||||
Common stock and capital in excess of par value, 4,276 issued and outstanding (4,228 issued and outstanding as of December 30, 2023) |
|
| 49,763 |
|
|
| 36,649 |
|
Accumulated other comprehensive income (loss) |
|
| (696 | ) |
|
| (215 | ) |
Retained earnings |
|
| 66,162 |
|
|
| 69,156 |
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Intel Corporation | ||||||||
Consolidated Condensed Statements of Cash Flows | ||||||||
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Cash flows provided by (used for) operating activities: |
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|
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| ||||
Net income (loss) |
|
| (2,091 | ) |
|
| (1,295 | ) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
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| ||||
Depreciation |
|
| 4,403 |
|
|
| 3,733 |
|
Share-based compensation |
|
| 1,959 |
|
|
| 1,661 |
|
Restructuring and other charges |
|
| 1,291 |
|
|
| 255 |
|
Amortization of intangibles |
|
| 717 |
|
|
| 909 |
|
(Gains) losses on equity investments, net |
|
| (84 | ) |
|
| (146 | ) |
Changes in assets and liabilities: |
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|
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| ||||
Accounts receivable |
|
| 272 |
|
|
| 1,137 |
|
Inventories |
|
| (116 | ) |
|
| 1,240 |
|
Accounts payable |
|
| 184 |
|
|
| (1,102 | ) |
Accrued compensation and benefits |
|
| (1,309 | ) |
|
| (1,340 | ) |
Income taxes |
|
| (2,174 | ) |
|
| (2,186 | ) |
Other assets and liabilities |
|
| (1,983 | ) |
|
| (1,843 | ) |
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Cash flows provided by (used for) investing activities: |
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Additions to property, plant, and equipment |
|
| (11,652 | ) |
|
| (13,301 | ) |
Proceeds from capital-related government incentives |
|
| 699 |
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| 49 |
|
Purchases of short-term investments |
|
| (17,634 | ) |
|
| (25,696 | ) |
Maturities and sales of short-term investments |
|
| 17,214 |
|
|
| 26,957 |
|
Other investing |
|
| (355 | ) |
|
| 662 |
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Cash flows provided by (used for) financing activities: |
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Issuance of commercial paper, net of issuance costs |
|
| 5,804 |
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|
| — |
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Repayment of commercial paper |
|
| (2,609 | ) |
|
| (3,944 | ) |
Payments on finance leases |
|
| — |
|
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| (96 | ) |
Partner contributions |
|
| 11,861 |
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|
| 834 |
|
Proceeds from sales of subsidiary shares |
|
| — |
|
|
| 1,573 |
|
Issuance of long-term debt, net of issuance costs |
|
| 2,975 |
|
|
| 10,968 |
|
Repayment of debt |
|
| (2,288 | ) |
|
| — |
|
Proceeds from sales of common stock through employee equity incentive plans |
|
| 631 |
|
|
| 665 |
|
Payment of dividends to stockholders |
|
| (1,063 | ) |
|
| (2,036 | ) |
Other financing |
|
| (444 | ) |
|
| (453 | ) |
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Intel Corporation | ||||||||
Supplemental Operating Segment Results | ||||||||
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Desktop |
| $ | 2,527 |
|
| $ | 2,370 |
|
Notebook |
|
| 4,480 |
|
|
| 3,896 |
|
Other |
|
| 403 |
|
|
| 514 |
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Altera |
|
| 361 |
|
|
| 848 |
|
Mobileye |
|
| 440 |
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|
| 454 |
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Other |
|
| 167 |
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|
| 117 |
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Intersegment eliminations |
|
| (4,254 | ) |
|
| (3,941 | ) |
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Altera |
|
| (25 | ) |
|
| 346 |
|
Mobileye |
|
| 72 |
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|
| 129 |
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Other |
|
| (82 | ) |
|
| (120 | ) |
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Intersegment eliminations |
|
| (291 | ) |
|
| (413 | ) |
Corporate unallocated expenses |
|
| (1,720 | ) |
|
| (1,608 | ) |
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For information about our operating segments, including the nature of segment revenues and expenses, and a reconciliation of our operating segment revenue and operating income (loss) to our consolidated results, refer to our Form 10-K filed on January 26, 2024, Form 8-K furnished on April 2, 2024 and 10-Q filed on August 1, 2024.
Intel Corporation Explanation of Non-GAAP Measures
In addition to disclosing financial results in accordance with US GAAP, this document contains references to the non-GAAP financial measures below. We believe these non-GAAP financial measures provide investors with useful supplemental information about our operating performance, enable comparison of financial trends and results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance. Some of these non-GAAP financial measures are used in our performance-based RSUs and our cash bonus plans.
Our non-GAAP financial measures reflect adjustments based on one or more of the following items, as well as the related income tax effects. Income tax effects are calculated using a fixed long-term projected tax rate of 13% across all adjustments. We project this long-term non-GAAP tax rate on at least an annual basis using a five-year non-GAAP financial projection that excludes the income tax effects of each adjustment. The projected non-GAAP tax rate also considers factors such as our tax structure, our tax positions in various jurisdictions, and key legislation in significant jurisdictions where we operate. This long-term non-GAAP tax rate may be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or changes to our strategy or business operations. Management uses this non-GAAP tax rate in managing internal short- and long-term operating plans and in evaluating our performance; we believe this approach facilitates comparison of our operating results and provides useful evaluation of our current operating performance.
Our non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the financial results calculated in accordance with US GAAP and reconciliations from these results should be carefully evaluated.
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Acquisition-related adjustments | Amortization of acquisition-related intangible assets consists of amortization of intangible assets such as developed technology, brands, and customer relationships acquired in connection with business combinations. Charges related to the amortization of these intangibles are recorded within both cost of sales and MG&A in our US GAAP financial statements. Amortization charges are recorded over the estimated useful life of the related acquired intangible asset, and thus are generally recorded over multiple years.
| We exclude amortization charges for our acquisition-related intangible assets for purposes of calculating certain non-GAAP measures because these charges are inconsistent in size and are significantly impacted by the timing and valuation of our acquisitions. These adjustments facilitate a useful evaluation of our current operating performance and comparison to our past operating performance and provide investors with additional means to evaluate cost and expense trends.
|
Share-based compensation | Share-based compensation consists of charges related to our employee equity incentive plans. | We exclude charges related to share-based compensation for purposes of calculating certain non-GAAP measures because we believe these adjustments provide comparability to peer company results and because these charges are not viewed by management as part of our core operating performance. We believe these adjustments provide investors with a useful view, through the eyes of management, of our core business model, how management currently evaluates core operational performance, and additional means to evaluate expense trends, including in comparison to other peer companies.
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Restructuring and other charges | Restructuring charges are costs associated with a restructuring plan and are primarily related to employee severance and benefit arrangements. Other charges include periodic goodwill and asset impairments, and costs associated with restructuring activity. Q2 2024 includes a charge arising out of the R2 litigation. | We exclude restructuring and other charges, including any adjustments to charges recorded in prior periods, for purposes of calculating certain non-GAAP measures because these costs do not reflect our core operating performance. These adjustments facilitate a useful evaluation of our core operating performance and comparisons to past operating results and provide investors with additional means to evaluate expense trends.
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(Gains) losses on equity investments, net | (Gains) losses on equity investments, net consists of ongoing mark-to-market adjustments on marketable equity securities, observable price adjustments on non-marketable equity securities, related impairment charges, and the sale of equity investments and other.
| We exclude these non-operating gains and losses for purposes of calculating certain non-GAAP measures because it provides comparability between periods. The exclusion reflects how management evaluates the core operations of the business.
|
(Gains) losses from divestiture | (Gains) losses are recognized at the close of a divestiture, or over a specified deferral period when deferred consideration is received at the time of closing. Based on our ongoing obligation under the NAND wafer manufacturing and sale agreement entered into in connection with the first closing of the sale of our NAND memory business on December 29, 2021, a portion of the initial closing consideration was deferred and will be recognized between first and second closing.
| We exclude gains or losses resulting from divestitures for purposes of calculating certain non-GAAP measures because they do not reflect our current operating performance. These adjustments facilitate a useful evaluation of our current operating performance and comparisons to past operating results. |
Adjusted free cash flow | We reference a non-GAAP financial measure of adjusted free cash flow, which is used by management when assessing our sources of liquidity, capital resources, and quality of earnings. Adjusted free cash flow is operating cash flow adjusted for (1) additions to property, plant, and equipment, net of proceeds from capital-related government incentives and partner contributions, and (2) payments on finance leases.
| This non-GAAP financial measure is helpful in understanding our capital requirements and sources of liquidity by providing an additional means to evaluate the cash flow trends of our business. |
Net capital spending | We reference a non-GAAP financial measure of net capital spending, which is additions to property, plant, and equipment, net of proceeds from capital-related government incentives and partner contributions. | We believe this measure provides investors with useful supplemental information about our capital investment activities and capital offsets, and allows for greater transparency with respect to a key metric used by management in operating our business and measuring our performance.
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Intel Corporation Supplemental Reconciliations of GAAP Actuals to Non-GAAP Actuals
Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the reconciliations from US GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.
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|
|
|
|
|
|
| ||
Acquisition-related adjustments |
| 224 |
|
| 306 |
| ||
Share-based compensation |
| 195 |
|
| 210 |
| ||
|
|
|
|
|
|
| ||
|
|
|
|
|
|
| ||
Acquisition-related adjustments |
| 1.7 | % |
| 2.4 | % | ||
Share-based compensation |
| 1.5 | % |
| 1.6 | % | ||
|
|
|
|
|
|
| ||
|
|
|
|
|
|
| ||
Acquisition-related adjustments |
| (41 | ) |
| (44 | ) | ||
Share-based compensation |
| (585 | ) |
| (712 | ) | ||
|
|
|
|
|
|
| ||
|
|
|
|
|
|
| ||
Acquisition-related adjustments |
| 265 |
|
| 350 |
| ||
Share-based compensation |
| 780 |
|
| 922 |
| ||
Restructuring and other charges |
| 943 |
|
| 200 |
| ||
|
|
|
|
|
|
| ||
|
|
|
|
|
|
| ||
Acquisition-related adjustments |
| 2.1 | % |
| 2.7 | % | ||
Share-based compensation |
| 6.1 | % |
| 7.1 | % | ||
Restructuring and other charges |
| 7.3 | % |
| 1.5 | % | ||
|
|
|
|
|
|
| ||
|
|
|
|
|
|
| ||
Income tax effects |
| (4.5 | )% |
| (267.5 | )% | ||
|
|
|
|
|
|
| ||
|
|
|
|
|
|
| ||
Acquisition-related adjustments |
| 265 |
|
| 350 |
| ||
Share-based compensation |
| 780 |
|
| 922 |
| ||
Restructuring and other charges |
| 943 |
|
| 200 |
| ||
(Gains) losses on equity investments, net |
| 120 |
|
| 24 |
| ||
(Gains) losses from divestiture |
| (39 | ) |
| (39 | ) | ||
Adjustments attributable to non-controlling interest |
| (18 | ) |
| (18 | ) | ||
Income tax effects |
| (358 | ) |
| (2,373 | ) | ||
|
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|
|
|
| ||
|
|
| ||||||
|
|
|
| |||||
|
|
|
|
|
|
| ||
Acquisition-related adjustments |
| 0.06 |
|
| 0.08 |
| ||
Share-based compensation |
| 0.18 |
|
| 0.22 |
| ||
Restructuring and other charges |
| 0.22 |
|
| 0.05 |
| ||
(Gains) losses on equity investments, net |
| 0.03 |
|
| 0.01 |
| ||
(Gains) losses from divestiture |
| (0.01 | ) |
| (0.01 | ) | ||
Adjustments attributable to non-controlling interest |
| — |
|
| — |
| ||
Income tax effects |
| (0.08 | ) |
| (0.57 | ) | ||
|
|
|
|
|
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| ||
|
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| ||||||
|
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|
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| ||
Net partner contributions and incentives received (cash expended) for property plant and equipment |
| 5,863 |
|
| (5,454 | ) | ||
Payments on finance leases |
| — |
|
| (81 | ) | ||
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| ||
|
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| ||
|
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| ||
Intel Corporation Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook
Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the financial outlook prepared in accordance with US GAAP and the reconciliations from this Business Outlook should be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.
|
| |||
| Approximately | |||
|
|
|
| |
Acquisition-related adjustments |
| 1.7 | % | |
Share-based compensation |
| 1.8 | % | |
|
|
|
| |
|
| |||
|
|
|
| |
Income tax effects |
| (21 | )% | |
|
|
|
| |
|
| |||
|
|
|
| |
Acquisition-related adjustments |
| 0.06 |
| |
Share-based compensation |
| 0.23 |
| |
Restructuring and other charges |
| 0.06 |
| |
(Gains) losses from divestiture |
| (0.01 | ) | |
Adjustments attributable to non-controlling interest |
| — |
| |
Income tax effects |
| (0.13 | ) | |
|
|
|
|
Non-GAAP gross margin percentage and non-GAAP EPS outlook based on the mid-point of the revenue range. |
Intel Corporation Supplemental Reconciliations of Other GAAP to Non-GAAP Forward-Looking Estimates
Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the reconciliations should be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.
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|
|
|
|
|
| Approximately |
| Approximately |
|
|
|
|
|
|
|
|
|
|
Acquisition-related adjustments |
| (0.2) |
| (0.1) |
Share-based compensation |
| (2.7) |
| (2.5) |
|
|
|
|
|
|
|
|
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Proceeds from capital-related government incentives |
| (1.5 - 3.5) |
| (4.0 - 6.0) |
Partner contributions |
| (12.5) |
| (4.0 - 5.0) |
|
|
|
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240801042170/en/
Kylie Altman Investor Relations 1-916-356-0320 [email protected] Penny Bruce Media Relations 1-408-893-0601 [email protected]
Source: Intel Corporation
Released Aug 1, 2024 • 4:01 PM EDT
Sl.No. | 2023-24 | 2022-23 | 2021-22 | 2020-21 | 2019-20 | 2018-19 | 2017-18 | 2016-17 | 2015-16 | 2014-15 |
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Transcript of 20 th Annual Analysts & Investors Meet held on 29 July 2024... Click here
Transcript of 19 th Annual Analysts & Investors Meet held on 31 July 2023... Click here
Transcript of 18 th Annual Analyst and Investor Meet of NTPC held on 1 August 2022... Click here
IMAGES
COMMENTS
INVESTOR PRESENTATION. 2 Core Values Vision Mission I C O M I T ... Solutions in an Economical, Efficient and Environment friendly manner, driven by Innovation and Agility NTPC - Vision, Mission and Core Values. 3 ... (as on 31 March, 2023) Rest of India : 3,44,465 MW NTPC (Group) : 71,594 MW 17% Installed Capacity as at 30.06.2023 : 73,024 MW ...
NTPC Electric Supply Co. Limited balance sheet Audited ...click here to view. Patratu Audited Patratu Vidyut Utpadan Nigam Limtited Balance Sheet March 2023 ...click here to view. Bhartiya Rail Bijlee Co. Ltd. Audited Financial Statement ...click here to view. THDC (India) Limited CFS Audited 2023 ...click here to view.
Consequent upon successful commissioning and due approvals, Durgapur PP-III Unit-2 of 20 MW of NTPC-SAIL Power Company Limited, is declared on Commercial Operation w.e.f. 29.03.2024. With this, the total installed and commercial capacity of NTPC group has now become 75878 MW. 01st April,2024.
NTPC - FY23 Audited Results: Generation up by 10.95%; PAT up by 5.62% (Standalone) The Country's largest power generator- NTPC Ltd., with a present group installed capacity of 72,304 MW, has declared the financial results for FY23 on 19 May 2023. NTPC Group recorded the highest ever annual generation of 399 Billion Units in FY23 as compared to 361 Billion Units in FY22, an increase of ~11%.
in January 2023 and several other high profile emission reduction projects are expected to be completed in 2023-24. NTPC filed a General Rate Application with the NWT Public Utilities Board (PUB) at the end of 2021-22 and the regulatory review process advanced throughout 2022-23. A final decision on new electricity rates for customers in
NTPC Ltd., India's largest integrated power utility, with an installed group capacity of 76,015 MW, has declared the financial results for the financial year 2023-24, on 24th May, 2024. NTPC Group recorded the highest-ever annual electricity generation of 422 Billion Units in FY24 as compared to 399 Billion Units in FY23, an increase of ~6%.
NTPC Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 428,203.8 million compared to INR 446,018.4 million a year ago. Revenue was INR 435,746.5 million compared to INR 449,892.1 million a year ago.
In terms of Regulation 30 of SEBI (LODR) Regulations, 2015, we hereby submit the Investor Presentation made at the 20th Annual Analysts and Investors Meet of NTPC Limited, held on 29 July 2024. pdf. NTPC Ltd. 31 Jul 2023.
PresentationQ1FY24 10 Aug 2023; PresentationQ1FY23 4 Aug 2022; Presentation Q2FY19 1 Apr 2020; ... Long-term investors can download NTPC Ltd.'s investor presentations from our website and use them to make informed investment decisions. The investor presentations provide valuable insights into the company's operations and financial performance.
State-run power generator NTPC Ltd reported a consolidated net profit of Rs 6490.05 crore for the fourth quarter of 2023-24, up 33 percent from Rs 4871.5 crore in the year-ago period.
NTPC Ltd. is currently trading up 0.42% on an intraday basis. In the past week the stock rose 5.36%. stock has been up 13.71% in the past quarter and rose 90.41% in the past year. You can view this in the overview section. NTPC Ltd. live share price at 3:31 p.m. on Aug 6, 2024 is Rs 415.00.
NTPC Results Preview | Output, capacity addition may power 11% rise in Q2 net profit 12.10.2022 Power Sector Q2 Preview: Demand spike to better PLF, boost generation, profitability
1. 2018-19. 2. 2018-19. 3. 2018-19. 4. Watch out for the information about NTPC Financial Results, NTPC Annual Reports, and NTPC Archive on this page.
Over the last 5 years, revenue has grown at a yearly rate of 12.22%, vs industry avg of 12.88%. Market share is the percentage of an industry's total sales going to a particular company. It gives a general idea of the size of a company v/s its competitors. Over the last 5 years, market share decreased from 63.07% to 60.18%.
NTPC Stock Price Chart - Get NTPC share prices with latest news, NSE/BSE performance, financial statement, market cap, annual & quarterly results, dividend, profit/loss, price forecast & more ... Investor Presentation. Aug 1 PDF. FY 2024. ... Sep 2023. Dec 2023. Mar 2024. Jun 2024. Shareholding History Download. Foreign Institutions.
NTPC Ltd. investor presentations, annual reports, earnings calls and conference calls. Markets Today Top Gainers Top Losers Discover Search all filings. 11 major resignations today 15 meeting announcements today ...
https://www.valueresearchonline.com/stories/5624fa52-469c-49c5-9de5-bf764e5e1109/news-announcement/
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2023 GAAP gross profit ... AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD's performance across reporting periods on a consistent basis ...
Presentation at the 19th Analysts & Investors Meet held at Mumbai on 31/07/2023.View Presentation at the 18th Analysts & Investors Meet held at Mumbai on 01/08/2022. ... NTPC Bhawan, SCOPE Complex, 7, Institutional Area, Lodi Road, New Delhi-110003 ...
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Know about the NTPC Annual Report, NTPC Final Result, and NTPC Archive on this page NTPC site. Loading... Skip to Main Content ... Investors Updates; Corporate Governance; Compliances; IEPF Details; Bonds Investors; ... 2023-24 : view/Download: Click here to view : 2022-23 : view/Download:
Contents: Cities and Settlements The population of all cities and urban settlements in Nizhny Novgorod Oblast according to census results and latest official estimates.
Intel Products Highlights. CCG: Intel continues to define and drive the AI PC category, shipping more than 15 million AI PCs since December 2023, far more than all of Intel's competitors combined, and on track to ship more than 40 million AI PCs by year-end. Lunar Lake, the company's next-generation AI CPU, achieved production release in July 2024, ahead of schedule, with shipments starting ...
NTPC Ltd. cash flow with net cash flow, operating, investing and financing cash flows as of Mar 2024 and 10 year history. Nested row level. Base Level. + Expand. NTPC Ltd. Investor Presentation: Get insights into company performance, financials, capex plans and more.
Transcript of 19 th Annual Analysts & Investors Meet held on 31 July 2023... Click here. Transcript of 18 th Annual Analyst and Investor Meet of NTPC held on 1 August 2022... Click here. Sl.No. 2023-24 2022-23 2021-22 2020-21 2019-20 2018-19 2017-18 2016-17 2015-16 2014-15 Q1.