Intel Corporation stock research
FY2025 Q2
Intel (INTC) Gross Margin — Quarter Ended Jun 28, 2025
Revenue increased slightly compared to the prior quarter and the same quarter last year, but gross profit declined and cost of revenue rose, resulting in a significantly lower gross margin. The gross margin weakened relative to both periods.
Gross margin takeaway
Quarter ended Jun 28, 2025 · FY2025 Q2
Revenue increased slightly compared to the prior quarter and the same quarter last year, but gross profit declined and cost of revenue rose, resulting in a significantly lower gross margin. The gross margin weakened relative to both periods.
- The strongest observable margin driver is the increase in cost of revenue, which grew faster than revenue. This outpaced revenue growth and compressed gross profit.
- Compared to the immediately preceding quarter, gross margin weakened substantially. Compared to the same quarter one year earlier, gross margin also weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
27.5%
Gross profit
$3.5B
Revenue
$12.9B
Cost of revenue
$9.3B
Quarter-over-quarter change
-9.3 pts
Year-over-year change
-7.9 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 |
|---|---|---|---|---|
| Sep 28, 2024 | $13.3B | $2.0B | $11.3B | 15.0% |
| Dec 28, 2024 | $14.3B | $5.6B | $8.7B | 39.2% |
| Mar 29, 2025 | $12.7B | $4.7B | $8.0B | 36.9% |
| Jun 28, 2025 | $12.9B | $3.5B | $9.3B | 27.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 29, 2025
-9.3 pts
Year-over-year change
Jun 29, 2024
-7.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the increase in cost of revenue, which grew faster than revenue. This outpaced revenue growth and compressed gross profit.
Compared to the immediately preceding quarter, gross margin weakened substantially. Compared to the same quarter one year earlier, gross margin also weakened.
Monitor the trend of cost of revenue relative to revenue in upcoming quarters, as it is the primary factor behind the margin decline.