Intel Corporation stock research
FY2024 Q1
Intel (INTC) Gross Margin — Quarter Ended Mar 30, 2024
Revenue was lower than the prior quarter but higher than the same quarter a year ago. Gross profit decreased sequentially while increasing year-over-year; the gross margin weakened compared to the immediately preceding quarter but improved from the same quarter one year earlier.
Gross margin takeaway
Quarter ended Mar 30, 2024 · FY2024 Q1
Revenue was lower than the prior quarter but higher than the same quarter a year ago. Gross profit decreased sequentially while increasing year-over-year; the gross margin weakened compared to the immediately preceding quarter but improved from the same quarter one year earlier.
- Gross margin was lower than the preceding quarter and higher than the year-ago quarter, indicating a mixed performance. The cost of revenue decreased both sequentially and year-over-year, but revenue declined more sharply on a sequential basis, driving the margin compression.
- Compared to the prior quarter, revenue and gross profit declined, and gross margin weakened. Relative to the same quarter last year, revenue and gross profit both improved, and gross margin strengthened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
41.0%
Gross profit
$5.2B
Revenue
$12.7B
Cost of revenue
$7.5B
Quarter-over-quarter change
-4.7 pts
Year-over-year change
+6.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jul 1, 2023 | $12.9B | $4.6B | $8.3B | 35.8% |
| Sep 30, 2023 | $14.2B | $6.0B | $8.1B | 42.5% |
| Dec 30, 2023 | $15.4B | $7.0B | $8.4B | 45.7% |
| Mar 30, 2024 | $12.7B | $5.2B | $7.5B | 41.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 30, 2023
-4.7 pts
Year-over-year change
Apr 1, 2023
+6.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin was lower than the preceding quarter and higher than the year-ago quarter, indicating a mixed performance. The cost of revenue decreased both sequentially and year-over-year, but revenue declined more sharply on a sequential basis, driving the margin compression.
Compared to the prior quarter, revenue and gross profit declined, and gross margin weakened. Relative to the same quarter last year, revenue and gross profit both improved, and gross margin strengthened.
Monitor whether cost of revenue can be reduced further in future quarters to support margin stability.